An expanded federal homebuyer tax credit and bargain prices are driving real estate recovery, as nationwide residential transaction volume is on the upswing. Nowhere is the resurgence more evident than in Ohio, which garnered the four top spots on the list of top housing markets for 2010 that is dominated by states in the midwest and north. See the following article from Housing Predictor for more on this.
More housing markets are forecast to experience appreciation in 2010 as the nation’s real estate markets move closer to stabilization. The Best 25 Housing Markets named annually by Housing Predictor hold the strongest likelihood of housing inflation of all 250 market predictions issued.
Despite the weak economy, home sales are increasing in the majority of the country and are projected to improve over at least the first half of the year boosted by the federal government’s expansion of the first time home buyers’ tax credit to move-up buyers.
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Propelled by bargain prices, four Ohio markets top the list of the best 25. Prices got so low in most of Ohio that they have only one way to go. Bankers slashing prices of foreclosures and short sales are setting a new standard for the real estate industry in order to try and save their institutions from failure.
Twelve states are represented on the top 25 list, including many midwest and northern-tier states, which have been less severely impacted by the housing crisis. In all, 44 markets are currently forecast to experience housing inflation in 2010. As we encounter the most challenging real estate market since the Great Depression, the predictions here will be updated and change over the year.
Best 25 Housing Markets 2010
|Rank||Real Estate Market||Forecast|
|6.||Des Moines, IA||5.1%|
|10.||Baton Rouge, LA||4.0%|
|15.||Iowa City, IA||3.1%|
|18.||Rapid City, SD||2.8%|
|20.||Grand Rapids, MI||2.7%|
|21.||Sioux Falls, SD||2.7%|
This article has been republished from Housing Predictor. You can also view this article from Housing Predictor, a real estate analysis and forecasting site.