Dennis Norman
By: Dennis Norman
Unless you are willing to relocate to chase a good real estate market, or escape a bad one, I’m not sure that it does you a whole lot of good to know what metro areas are expected to perform the best, and the worst, in the next 12 months, but for agents already located in the metros on the “A” list it will at least be encouragement and hopefully a sign of good things to come.
Veros Real Estate Solutions has published their quarterly update with their “VeroFORECAST”. Their forecast projects what the five best and five worst markets will be in the year ahead based upon “more than 50 critical decisioning factors” (I can now add “decisioning” to my vocabulary..) including interest rates, unemployment, inflation and housing inventory as well as “an array of economic and geographic trends.”
-
Beaumont/Port Arthur, TX +5%
-
Boulder, CO +5%
-
Amarillo, TX +5%
-
San Diego, CA +4%
-
Charleston, WV +4%
After what the market has been through, it ‘s good to see some positive numbers on the cities above, indicating an expected appreciation in real estate values in those areas. Unfortunately, for the list below of the 5 markets expected to be the weakest in the coming 12 months their expected “appreciation” is all negative, however the rates of price declines in these areas are better than we have seen in the recent past*:
-
Reno, NV -12%
-
Las Vegas, NV -11%
-
Palm Bay/Melbourne/Titusville, FL -10%
-
Port St. Lucie/Fort Pierce, FL -9%
-
Miami/Ft Lauderdale/Miami Beach, FL -9%
Hmm, as I type this I am thinking that not long ago I did a post a while back quoting a report published by another company that analyzes real estate markets and I’m thinking they had Port St. Lucie, FL on their list as expected to be one of the better performing markets….I’ll have to dig back into that….We all have to remember though, even though this data comes from very reputable companies with educated analysts that watch the market, at the end of the day these forecasts are just “opinions”…and you know what they say about opinions. 
*This report and data was based on residential real estate in major metro areas amount single-family homes in the median price tier. Veros publishes forecasts and data for various segments by property type (single-family vs. townhouse/condo), by three distinct pricing tiers (upper, middle and entry-level) and by metro area, county and zip code. (hey, they can’t give us all the data for free, they need to have something left to sell)
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
