Despite U.S. housing markets being generally dreary since 2008, there are a few promising patches across the country, according to 24/7 Wall St. Review . 24/7 Wall St. looked at data from Fiserve Case Shiller, which gathers and analyzes housing information, and compiled a list of ten markets that will rebound the most in 2011.
The list indicates that two kinds of real estate markets are on the rise: one that was generally stable, but was hurt by the recession; and one that will rise because lower housing costs are making it affordable for residents to buy a home for the first time in decades.
The twelve cities in which homes prices will increase the most in 2011 are divided into two categories. One comprises cities in the Northwest with mostly white populations, stable middle classes andone or two major industries that dominate employment. Some of these cities are removed from larger metropolises like Chicago or L.A., meaning they serve geographic areas that might stretch several hundred miles, making them business and agricultural hubs.
The second category of cities is composed of cities that have not been as economically prosperous, but have made the list because lower housing prices have changed the residents’ ability to purchase homes that were previously unaffordable.
- 10. Great Falls, Montana
- 9. (three-way tie) - Cheyenne, Wyoming; Kennewick-Pasco-Richland, Washington; Myrtle Beach-Conway, South Carolina
- 8. Idaho Falls, Idaho
- 7. Bremerton-Silverdale, Washington
- 6. Grand Junction, Colorado
- 5. Bellingham, Washington
- 4. Spokane, Washington
- 3. Tacoma, Washington
- 2. Madera-Chowchilla, California
- 1. Mobile, Alabama
For more information: http://247wallst.com/2011/05/11/housing-markets-that-will-rise-most-this-year/