I frequently get asked by investors where they should be investing or what markets are poised for growth. It’s a difficult question because I think there are opportunities in virtually any market provided they are not ghost towns or becoming one. Having said that, I do pay attention to what so called market experts think about opportunities in different markets.
Mortgage insurance companies have a vested interest in knowing where the good markets are as it helps them with their risk analysis. Below is a list of markets PMI Mortgage Insurance Company has put together on the markets they think have the least probability of suffering further price declines.
14 Markets With Nowhere to Go but Up
PMI Mortgage Insurance Co., has ranked the nation’s 50 largest metropolitan statistical areas according to the risk that home prices will decline further during the next two years.
The highest risk is in areas where home price growth was the greatest during the housing boom. The lowest risk of prices declining further is in areas where affordability has increased.
PMI identifies these areas as having a less than 1 percent risk of home prices declining further –
• Milwaukee-Waukesha-West Allis, Wis.
• Cleveland-Elyria-Mentor, Ohio
• Austin-Round Rock, Texas
• Denver-Aurora, Colo.
• Charlotte-Gastonia-Concord, N.C.-S.C.
• Kansas City,Mo.-Kan.
• Columbus, Ohio
• Cincinnati-Middletown, Ohio-Ky.-Ind.
• Indianapolis-Carmel, Ind.
• San Antonio, Texas
• Houston-Sugar Land-Baytown, Texas
• Pittsburgh, Pa.
• Dallas-Plano-Irving, Texas
• Fort Worth-Arlington, Texas
Source: PMI Mortgage Insurance Co. (07/01/2008)
Posted by Carter Brown
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