Forbes Releases List of Top Housing Markets Likely to Experience Value Appreciation

Posted by TheHomeCart .com on Sunday, September 19th, 2010 at 7:14pm.

As people around the country look forward to a recovery from the devastating recession that has caused home values to depreciate around the country, Forbes magazine has created a list of those markets that have the greatest chance of experiencing a price appreciation. Clearly, anyone who is looking for a solid investment property or who simply wants to purchase property in an area where they can be relatively certain the price will only go up from here, being aware of which areas are most likely to appreciate in value is good information to have.

Although there are a number of factors to consider when determining which markets are the most likely to appreciate in value, Forbes magazine primarily focused on the mix of jobs available in the area that are weighted toward growth industries. In order to compile the data necessary to create the list, Forbes magazine turned to real estate research firm Local Market Monitor and came up with the following top ten markets:

  1. Raleigh-Cary, North Carolina (Q2 2010 Home Price Change: -3%; Three-Year Home Price Forecast: 0%; Population Growth, 2000-2005: 18%)
  2. McAllen-Edinburg-Mission, Texas (Q2 2010 Home Price Change: 1%; Three-Year Home Price Forecast: 7%; Population Growth, 2000-2005: 16%)
  3. Austin-Round Rock, Texas (Q2 2010 Home Price Change: -1%; Three-Year Home Price Forecast: 5%; Population Growth, 2000-2005: 16%)
  4. Nashville-Davidson-Murfreesboro-Franklin, Tennessee (Q2 2010 Home Price Change: -4%; Three-Year Home Price Forecast: 3%; Population Growth, 2000-2005: 10%)
  5. San Antonio, Texas (Q2 2010 Home Price Change: -4%; Three-Year Home Price Forecast: 2%; Population Growth, 2000-2005: 9%)
  6. Colorado Springs, Colorado (Q2 2010 Home Price Change: -3%; Three-Year Home Price Forecast: 0%; Population Growth, 2000-2005: 9%)
  7. Albuquerque, New Mexico (Q2 2010 Home Price Change: -3%; Three-Year Home Price Forecast: 1%; Population Growth, 2000-2005: 9%)
  8. Denver-Aurora-Broomfield, Colorado (Q2 2010 Home Price Change: -3%; Three-Year Home Price Forecast: 2%; Population Growth, 2000-2005: 9%)
  9. Springfield, Missouri (Q2 2010 Home Price Change: -3%; Three-Year Home Price Forecast: 1%; Population Growth, 2000-2005: 8%)
  10. Indianapolis-Carmel, Indiana (Q2 2010 Home Price Change: -2%; Three-Year Home Price Forecast: 2%; Population Growth, 2000-2005: 7%)

Thanks to the strong population growth they enjoyed prior to the recession, it is not much of a surprise to see that Raleigh and McAllen made the top of the list. After all, the strong population growth helped to slow down the rate of price drops on properties in these areas. In addition, both areas have seen a great deal of growth in the government and education sectors, which means residents have enjoyed more employment opportunities than many other parts of the country.

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