The top 10 housing markets of 2009 include Cleveland, Detroit, and other cities that suffered the most during the global economic recession. After experiencing the largest drops in housing prices, these markets experienced the largest increase in home sales in 2009 as buyers sought to buy low, and eventually sell high when these markets recover long-term. See the following article from Housing Predictor for more on this.
You might look at the list of the annual Top Housing Market Winners in 2009 and think twice about some of the winners. But then again it’s been an extremely challenging year in real estate.
Home sales in the Top 10 markets got a great improvement towards the latter half of the year with help from lower housing prices, extremely low mortgage rates and the federal government’s first time buyers’ tax credit. Sales volume data is compiled from the latest information available from assessor and recorder offices throughout the country.
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After suffering through one of the most severe downturns in the nation Cleveland, Ohio leads the list with a huge increase in home sales followed by Detroit, Michigan. Home prices have gotten so low in both markets that buyers are flocking to the two areas for what they expect to be long term investments.
Ten states are represented on the top housing market list in 2009, including a strong showing of markets in the mid-west and Great Lakes region.
Top 10 Housing Markets 2009
|Rank||Real Estate Market|
|6.||St. Paul, MN|
|8.||Oklahoma City, OK|
This article has been republished from Housing Predictor. You can also view this article at Housing Predictor, a real estate analysis and forecasting site.