Driven by strong local economies the Top 25 housing markets with the highest forecast appreciation are further proof that all real estate is local in nature, and that despite news reports that the entire nation’s housing markets are depreciating, many states have housing markets that are appreciating strongly.
Fifteen states are now represented in the Top 25 markets, two more than at the start of 2007, including New Mexico. Albuquerque retains it’s #1 spot with a projected 9.1% in appreciation for the year. Growing McAllen, Texas is at second on the list with projected appreciation of 8.9% in 2007.
Housing Predictor’s 25 top markets have the highest probability of reaching their forecast appreciation out of more than 250 local markets forecast.
The great majority of the real estate markets on the Top 25 List are in the southern half of the nation. But bursting New York City and Spokane, Washington were added to the list at the mid-year update. Six Texas markets made the top 25.
Salt Lake City, Utah captured third due in part to Californians fleeing the Golden State. More Californians are actively looking to move out of the sunshine state than in the state’s history.
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|---|---|---|---|---|---|
| Rank | Real Estate Market | Median Price |
2007 Forecast | ||
| 1. | Albuquerque, NM | $194,000 | 9.1% | ||
| 2. | McAllen, TX | $112,000 | 8.9% | ||
| 3. | Salt Lake City, UT | $241,000 | 8.6% | ||
| 4. | Austin, TX | $174,000 | 8.4% | ||
| 5. | Seattle, WA | $380,000 | 8.2% | ||
| 6. | Houston, TX | $148,000 | 7.8% | ||
| 7. | Biloxi, MS | $204,000 | 7.5% | ||
| 8. | El Paso, TX | $132,000 | 7.2% | ||
| 9. | Nashville, TN | $155,000 | 6.9% | ||
| 10. | Portland, OR | $241,000 | 6.7% | ||
| 11. | San Antonio, TX | $154,000 | 6.5% | ||
| 12. | Las Cruces, NM | $ 154,000 | 6.4% | ||
| 13. | Little Rock, AR | $117,000 | 6.4% | ||
| 14. | Dallas, TX | $161,000 | 6.4% | ||
| 15. | Monroe, LA | $164,000 | 6.3% | ||
| 16. | Boise, ID | $162,000 | 6.1% | ||
| 17. | Jackson, MS | $137,000 | 6.1% | ||
| 18. | New York, NY | $535,000 | 6.0% | ||
| 19. | Raleigh, NC | $239,000 | 5.9% | ||
| 20. | Newport, NC | $208,000 | 5.8% | ||
| 21. | Fort Smith, AR | $112,000 | 5.8% | ||
| 22. | Spokane, WA | $178,000 | 5.8% | ||
| 23. | Charlotte, NC | $235,000 | 5.7% | ||
| 24. | Bar Harbor, ME | $398,000 | 5.5% | ||
| 25. | Hot Springs, AR | $159,000 | 5.4% | ||
