No. 1: ‘5 cities poised for a housing pop’by Tim Manni
HSH.com’s most popular article of 2011 is, “5 cities poised for a housing pop.”
Publish date: June 14, 2011
Written by: Robert McGarvey
Read the big, heavily publicized housing market reports and the only conclusion is that doom and gloom are the dual engines driving U.S. real estate. Double-digit dips are the norm in the recent Zillow Home Value Index, and the Case-Shiller Home Price Index is just as discouraging.
However, there may be good reason to shrug off those indexes. “I believe those indexes skew to the negative,” says Greg Rand, a real estate expert, New York City radio host, and author of Crash Boom! There are markets out there that are fundamentally healthy.”
Eric Fox, vice president for statistical and economic modeling for Veros Real Estate Solutions, in Santa Ana, Calif., agrees. In a recent, comprehensive survey of U.S. housing markets, Fox found a number of markets on the upswing. More markets, he admits, remain stuck in neutral or reverse, but the good news is that an increasing number of markets seem to be healing, he says.
In the healthy markets, the supply of homes for sale is within normal bounds, unemployment and the cost of living is below the national average, and home prices remain comparatively low and stable. Add to that mortgage rates near historic lows and you’ve got an advantageous situation for homebuyers.
Exactly which markets seem poised to rebound? Different experts have their own favorites, but here are five markets that are well positioned for housing appreciation in the next year.
1. 1. Pittsburgh
3. Washington, D.C.
5. San Antonio
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