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Business magazine, Moody’s top ten list of cities with rebounding real estate markets, Dallas, Indianapolis, New Orleans, increased growth rate, projected median home prices
Daily Real Estate News | September 25, 2007
The oldest rule of investing: Buy low, sell high. With some housing markets bottoming out, now could be a good time to get ready to make money on the slowdown, says Business magazine, which has worked with Moody’s Economy.com to identify 10 major metropolitan areas that are coming back to life after a slowdown
The following is a list of the 10 metro areas identified by the magazine, including their projected median sales prices for single-family homes and the percentage of growth expected in the next two years. While the numbers are moderate, they are a huge improvement over what’s been happening in these cities and others, the magazine notes.[
Daily Real Estate News | September 25, 2007
The oldest rule of investing: Buy low, sell high. With some housing markets bottoming out, now could be a good time to get ready to make money on the slowdown, says Business magazine, which has worked with Moody’s Economy.com to identify 10 major metropolitan areas that are coming back to life after a slowdown
The following is a list of the 10 metro areas identified by the magazine, including their projected median sales prices for single-family homes and the percentage of growth expected in the next two years. While the numbers are moderate, they are a huge improvement over what’s been happening in these cities and others, the magazine notes.[
[SIZE=2]Source: Business 2.0, Paul Kaihla (10/01/07)[/SIZE]
I tried to change it,but couldn't,sorry!
Magazines need to sell w/flashy titles and such. The devil is in the details. St. Louis (metro) has high inventory and sales are way down. Will the market rebound? My crystal ball says "unsure"...
The interesting thing to me about this list is that 3 are in TX, 2 in AL, and 3 of the remaining 5 are in the southeast. This is a region that did not have the large price runup. I think I see a pattern in this list.
Its interesting. That article where they posted the #'s above states that Indianapolis hit the bottom in '06.
QUOTE: "But the housing market hit bottom earlier here than in most parts of the country - during the last quarter of 2006. Now, with the local economy poised to grow faster than the national average over the next two years, house prices are projected to post a respectable gain."
That's funny because Ryland homes and Centex are having a fire sale this weekend drastically reducing prices in the Indy market.....hmmm can someone say "a little optimistic"??
Its interesting. That article where they posted the #'s above states that Indianapolis hit the bottom in '06.
QUOTE: "But the housing market hit bottom earlier here than in most parts of the country - during the last quarter of 2006. Now, with the local economy poised to grow faster than the national average over the next two years, house prices are projected to post a respectable gain."
That's funny because Ryland homes and Centex are having a fire sale this weekend drastically reducing prices in the Indy market.....hmmm can someone say "a little optimistic"??
I have colleagues who sell new homes in Indy. It's no picnic, and they are thinking about packing it in. Indiana's foreclosure rates are one of the highest in the country (with Michigan).
Those Indianapolis numbers are quite low!
I know for a fact that Hamilton County north of Indianapolis has relatively high average home values compared with the rest of the state.
[quote=magellan;1606886]Exactly. And New Orleans being #3? I'm sorry, but you couldn't pay ME to live in New Orleans. It has permanently lost 1/2 its population.
[quote]
Right after Katrina, New Orleans had a severe housing shortage for obvious reasons which drove up the price of real estate in Baton Rouge. Many people who lived in NO have never lived anywhere else and are anxiously awaiting the opportunity to move back. I know people in other parts of the country cannot understand but it is a different mentality down there. If the houses were there to accommodate the people, I can promise you that 2/3rds would be back in a heartbeat.
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