6 markets positioned for recovery in 2011
Most experts agree that very few housing markets will experience a full recovery in 2011, but HousingPredictor said six cities, including Denver, Fargo, N.D., and Washington, D.C., should make solid gains next year.
Most experts agree that very few housing markets will experience a full recovery in 2011, but HousingPredictor said these six cities should make solid gains next year.
1. Washington, D.C.: Government job growth should draw many workers to the area, and there is currently a tight supply of affordable homes within commuting distance.
2. Fargo, N.D.: A lack of aggressive mortgage lending has widely protected the area from the housing crisis, and building permits have only declined slightly.
3. Denver: Unemployment is less than 7.9%, and three out of four homes are listed below $300,000.
4. Austin, Texas: A younger market, diverse job base and relatively stable home prices should add up to a strong positive move in 2011.
5. Raleigh, N.C.: Home prices remain below average, and the area has a strong job base. Raleigh should also continue to draw northeasterners who can’t afford the high home prices.
6. Sacramento, Calif: The state economy is fairly weak, and unemployment remains high. But housing affordability is near the top among major California cities.