RESIDENTIAL REAL ESTATE MARKET WATCH
Those in the know, when it comes to the residential real estate markets, continue to pass on bad news for home sales and home prices. However, many are now passing along some positive news as well. Recently there have been some articles indicating that research and projections by different companies and agencies indicates that there are some bright spots in the market.
Several Texas cities continue to be forecast with strong sales and positive price growth. In fact, out of the top 10 markets cited for growth Texas came in first with four. The top four markets for growth and strong sales in Texas include McAllen-Mission, Elpaso, San Antonio and FortWorth-Arlington. The forecast growth through 2008 ranges from 3.5% to 9.8%. Certainly not the double digit numbers of the recent past (in some markets), but none the less strong growth projections when juxtaposed with many other markets.
Other markets that have favorable sales and growth projections include Syracuse N.Y., Rochester N.Y., Burmingham Ala.,Albuquerque Nm., Baton Rouge La., and Salt Lake City Ut. These markets also show positive growth as well as projections for price increases through 2008. All price increases are estimated to be single midget growth. Once again not nice double digit increases but strong growth with strong sales is a major factor when most of the country is experiencing declining values as well as forecast sales.
As a Mentor/Coach I am exposed daily to markets throughout the Country. I experience students, real estate agents, investors, as well as mortgage brokers interest in local markets. Although I agree with the information above ( which I gleaned from my research ) there are other markets that show signs of strong sales as well as increases in property values. Just a few that I believe exist, other than those above would include Raleigh Nc., Atlanta Ga., Boise Id., Nashville Tn., Austin Tx. I’m sure there are many more. Simple research on any particular market can be done by you or anybody and can yield substantial results to investors who take the time to know where to invest and what market conditions have been, are and are expected to be.
Take a look! Tell me what you think!
Cary Beagley
Look at you, but Boise, ID – come on now.