We hear a lot of "doom and gloom" in the media about the housing market. I would like to share an article with you that was published by Forbes magazine. I think you will find it very interesting.
Daily Real Estate News May 2, 2008
Markets That Are Doing Just Fine, Thanks
Some cities aren’t feeling the pain of falling home prices or rising unemployment. Despite the national slowdown, they're doing just fine.
To identify the economically healthiest cities, Forbes magazine examined key measures in the country’s 50 largest metros. The magazine studied unemployment and job-growth data from the Bureau of Labor Statistics, home price data from the NATIONAL ASSOCIATION REALTORS®, and information on gross metropolitan product growth provided by the U.S. Conference of Mayors.
Here are the 10 cities that Forbes sees as practically recession-proof, along with the percentage of growth for median-priced homes in the past year.
Oklahoma City, Okla. Median home price: +8.2 percent
San Antonio, Texas +7.9 percent
Austin, Texas +6.4 percent
San Jose, Calif. +11.2 percent
Raleigh, N.C. +4 percent
Salt Lake City +2.5 percent
Houston +1.1 percent
Seattle +1.2 percent
Charlotte, N.C. +3.3 percent
Dallas-Fort Worth +.5 percent
Source: Forbes, Matt Woolsey (04/29/2008)
To see all the recent local market stats in your area, call us at 972.772.7000 or visit my website for a full list of up to date market stats at www.RockwallRealEstateCareers.com.
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