PLACES WHERE HOUSING IS HOT
Forbes reported yesterday on 10 markets where housing is hot and where the “bubble� effect hasnot been felt significantly. The list with annual price increases through the second quarter of 2007includes:
 Salt Lake City, UT    +21%
 Binghamton, NY    +20%
 Salem, OR     +17%
 Farmington, NM    +14%
 Allentown-Bethlehem-Easton, PA-NJ +13%
 Beaumont-Port Arthur, TX   +12%
 Reading, PA     +11%
 Glens Falls, NY    +11%
 Spokane, WA    +10%
 Cumberland, MD-WV   + 9%
The author suggests several reasons for these markets performing differently than many other areasof the country. One is that these markets avoided the “get-rich real estate frenzy of recent years. Another is that local job growth which is above average for the U.S. has driven the real estate markets in these locations in recent months. A third factor is that a number of the locations are in the sun belt which has become increasingly popular.
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