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Local Market Monitor In the News
WRAL.com
Real Estate Today: Forecasting the Triangle market - Live Interview
Personal Real Estate Investor Magazine
The Top Ten Investor Markets
TheNewsStar.com
ABOVE THE CURVE: Twin Cities boast a healthy housing market “Local Market Monitor, which produces its Home Price Forecast for more than 300 cities, listed the Monroe area market among its top 10 smaller cities in the United States...”
Forbes
Most Affordable Cities To Buy A Home “...Finally, since a cheap home isn't much of a bargain if it's hemorrhaging value, we factored in how much home prices were expected to rise or fall over the next three years, using data from Local Market Monitor, a Cary, N.C.-based real estate research firm...”
MSNBC
In these markets, housing has a long way to go “To put together our list of housing markets expected to drop, Local Market Monitor measured 315 Metropolitan Statistical Areas and selected the ones where it anticipated average home prices would fall most in the next 12 months...”
Realtor.org
10 Markets Where Prices Are Still Falling “While the overall housing market appears to be on the mend, there are some Metropolitan Statistical Areas where prices are still falling...
Yahoo Finance
Tomorrow's Real Estate Trouble Spots “Today, buying a home in Atlantic City is a gamble. Of 315 cities measured by Local Market Monitor, a Cary, N.C.-based real estate research firm, the Atlantic City metro is expected to experience the largest drop in home value over the next 12 months...”
Forbes
Tomorrow's Real Estate Trouble Spots “"...During a recession internal migration within the U.S. drops sharply," says Ingo Wizner, president of Local Market Monitor, noting that relocating becomes less financially feasible in hard times."Home prices in these markets are likely to fall for several years, but will then recover as above-average population growth resumes..."”
Forbes
Ten U.S. Cities In Free Fall “To find the country's cities in free fall, we rated its 40 largest Metropolitan Statistical Areas (MSA) on six metrics. We ranked each MSA on the percent its median home price has fallen since its individual peak, using data provided by Local Market Monitor, a housing market data tracker.”
The Triangle Business Journal
Call Him Pac ManInvestor gobbling up land, betting on better times ahead “Ingo Winzer, president of Local Market Monitor, a Cary research company that tracks home values across the U.S., says that North Carolina markets are among the markets likely to have solid growth and increases in home prices going forward. "The market was doing well before the recession and will continue to do well as we move out of the recession," he says.”
Merced Sun-Star
Mixed Real Estate News for Merced County “Merced was listed as a small housing market expected to perform the best this year in a forecast created by Local Market Monitor. The company offers investors local market risk intelligence based on how high they think local housing prices will climb...”
WBRZ News2 Louisiana
BR among markets forecast for home price gain “Baton Rouge is again among the top real estate markets forecast to have strong home price increases, according to Local Market Monitor...”
Baton Rouge Business Report
B.R. housing market expected to stay ahead of nation “According to the Local Market Monitor's first-quarter Home Price Forecast, Baton Rouge is ranked as one of the best-performing markets in the category of markets with populations over 600,000...”
USAToday
Close to Home: In Buffalo, sales are bouncing back “In December, the Local Market Monitor, a North Carolina-based real estate research firm, named the county seat of Erie County one of the top 10 large housing markets because of its stability and growth potential...”
MSN Real Estate
Real-estate winners and losers of 2009 “Folks in Pittsburgh, San Antonio and Wichita, Kan., couldn't tell you what it felt like when the bubble burst. Prices in those markets haven't declined since 2005, and are slowly inching up, according to Local Market Monitor. "You do have more options if you have equity earned in your home," says Carolyn Beggs, chief operating officer of Local Market Monitor...”
MSNBC
Cities where homes have lost the most value “...homes at the median level in Merced have lost 62 percent of their value from the second quarter of 2006, when they peaked at $336,743, the biggest drop anywhere in the country, according to data provided to Forbes by Local Market Monitor, a Cary, N.C.-based real estate research firm...”
Yahoo Real Estate
Home Value Loss Now but Increased Pricing Expected in 2010 “There's bad news and good news coming out of the housing market. Forbes Magazine released study results by Local Market Monitor that showed the cities that lost the most value are concentrated in some areas of California, Florida, Nevada, and the Northeast...”
TheNewsStar.com
Housing market shines “...Earlier this year Local Market Monitor, which produces its Home Price Forecast for more than 300 cities, listed the Monroe area market among its top 10 smaller cities in the United States.”
Providence Business News
Local home prices fall most in Northeast “Home prices in the Providence metropolitan area have fallen the most in the Northeast since peaking in early 2006, federal data shows...”
Orlando Business Journal
Daytona Beach on Forbes list for falling home values “Three Central Florida areas landed on a Forbes top 10 list of cities throughout the nation with the highest declines in residential property values since the real estate market hit its highs in those respective communities....Forbes compiled the report based on data from real estate research firm Local Market Monitor.”
MPNnow.com
Realtors expect better year in 2010 “For that reason, a five-county region in the Rochester area is in the top 20 largest housing markets expected to perform the best next year a the national level, according to a report recently released by Local Market Monitor, a North Carolina-based real estate forecasting company...
Forbes
Full List: Cities Where Homes Are Losing Most Value “A region-by-region look at the metros with the highest peak-to-present price drops. To find the cities where home values fell the most, we began with the 315 Metropolitan Statistical Areas that Local Market Monitors tracks...”
Reporter News
Abilene's Housing is Solid Investment “Abilene rates highly in one company’s national list of the top-performing housing markets for investors....”
Dallas Morning News
Forecast puts D-FW home prices on top “Market analysts say the Dallas-Fort Worth area – along with most other major Texas cities – will have the best home price performance during the coming 12 months...”
Tulsa World
Outpacing the market, again “Local Market Monitor predicts that Tulsa area home prices will drop by 1 percent in 2010, compared with a national average of 4.9 percent. Based on current employment levels and average incomes, the listing indicates that home prices here are in balance, rather than being under- or over-valued...”
Central New York Business Journal
Firm predicts strong fourth quarter for Syracuse housing market “Syracuse ranks among the markets with the best expected fourth-quarter home prices, according to a new forecast from Local Market Monitor, a real estate forecasting company... ”
Triangle Business Journal
Triangle home prices projected to keep falling “Home prices in the Triangle will decline by 3 percent over the next 12 months above and beyond the 3 percent drop in the average home value since the market’s peak in fourth quarter 2008, according to a new Home Price Forecast report from Cary-based Local Market Monitor...”
WBRZ News2 Louisiana
BR among markets forecast for home price gain “Baton Rouge is among the top real estate markets forecast to have strong home price increases, according to Local Market Monitor...”
CNNMoney
Home prices may be bottoming out “An unemployment rate of 10.2% is a strong psychological impediment for anyone thinking of buying a house," said Ingo Winzer, president of real estate research firm Local Market Monitor Inc....”
Mortgage Banking Magazine
Back to Basics Written By: Ingo Winzer, President of Local Market Monitor “During the recent housing boom, many Americans made unwise financial decisions that boosted demand for mortgages to new heights.”
CNBC
Fall Real Estate Guide: Bargains, Bubbles And Stable Markets “...Real estate cycles last for many years,” says Winzer. “Even though prices have been dropping for a couple of years in some markets, they could keep dropping for several years more...”
Temple Daily Telegram
Area home prices to remain stable “Home prices in the Temple metro area are expected to be stable and could rise somewhat over the next year, according to an economic outlook released by Local Market Monitor... ”
CBS-KAUZ.com
Wichita Falls Makes Top Housing Market List! “...Analysts at Local Market Monitor named Wichita Falls as one of the top markets with the best expected performance in home price. This study identifies markets where home prices will continue to drop as well as stable markets with opportunities for growth... ”
Nebraska Public Radio
Nebraska real estate market outlook shows signs of a stable future “It's been about a year since the housing bubble burst. And Nebraska was able to shelter itself from the worst of the storm. But how is the state doing now, a year later? Today a report suggests the Omaha market will be one of the best-performing markets in the country... ”
Fort Worth Business Press
Fort Worth, Arlington foreclosure rates up in July “Cary, N.C.-based Local Market Monitor, a real estate forecasting and market predicting firm, released its third quarter Home Price Forecast on Sept. 9, which predicts local market behavior for more than 300 U.S. markets for the coming 12-month period. The forecast identifies markets where home prices will continue to drop as well as stable markets with opportunities for growth.”
KCAU-TV Iowa
Research firm says Omaha real estate to do well “A research firm says the Omaha area is likely to be 1 of the best-performing real estate markets in the country over the next year...”
TheNewsStar.com
Realtors: Local market to continue strong “Ouachita Parish's housing market could continue to outperform most of the rest of the nation during the next 12 months, according to a new report from Local Market Monitor, which produces its Home Price Forecast for more than 300 cities...”
HousingWire.com
House Prices May Slip 5% in 2010: Local Market Monitor “Home prices may decline an average of 5% across the country in 2010. Some regional markets hit hardest by the recession will experience additional double-digit declines while others will increase, according to real estate forecaster Local Market Monitor...”
Houston Business Journal
Report: Houston-area home prices to perform well “Home prices in the Houston-Sugar Land-Baytown metropolitan area are expected to be strong over the next 12 months, according to the Third Quarter Home Price Forecast from real estate forecaster Local Market Monitor... ”
Triangle Business Journal
Triangle home prices projected to fall 3% in next year “Home prices in the Raleigh-Durham area are forecast to fall by 3 percent over the next year, according to a new report from Cary company Local Market Monitor... ”
The Dallas Morning News
Forecast says Dallas will be one of top 10 home markets for 2009 “Despite continued sale declines, a new forecasts predicts the Dallas area will be one of the top home markets in the country this year. Fort Worth, Houston, San Antonio and Wichita Falls are also on the list of what are expected to be the 10 top-performing housing markets, according to a report released Wednesday by analysts at Local Market Monitor... ”
Entrepreneur Magazine
Texas housing markets continue to thrive “Just as California has dominated the rankings of worst-performing housing markets, Texas appears to run away with the honors for best-performing markets. On a ranking of the 10 largest housing markets with the best-expected performance released in June by Local Market Monitor, Cary, North Carolina, Texas markets took five of the 10 spots... ”
St Louis Real Estate News
Report shows St. Louis metro prices to decrease by 2% in next 12 months “A report published by Local Market Monitor, Inc. predicts the St. Louis metro area will see real estate values decline 2% in the coming 12 months. This projection does not sound bad and would support the possibility that the market is leveling off and perhaps we have seen the bottom... ”
US Banker Magazine
Treading Water at Best “...And Local Market Monitor, which forecasts prices in 315 markets, shows stable or rising (by single digit) prices in 50 of those markets in 2010. "If you add up all the markets where we forecast a double-digit decline in home prices in the next year, they hold about 25 percent of the U.S. population," notes Ingo Winzer, president of Local Market Monitor. "Consumers are running out of credit," he says. "There is a lot of pain associated with foreclosures, and banks will continue to hurt." ”
CBS 7
Odessa Makes Top Housing Market List 6/28/09 “West Texas – The Local Market Monitor released it’s latest home price forecast of the top smallest U.S. housing markets and three West Texas cities were listed including one from the Permian Basin. ”
The Oklahoman
Oklahoma City, Tulsa rank high in housing markets “The good news is that a real estate forecast put Oklahoma City and Tulsa among the housing markets with the "best expected performance” over the next year. The so-so news is that means home prices aren’t expected to drop, according to Local Market Monitor in Cary, N.C., which released its latest Home Price Index for more than 300 markets this week.... ”
Las Vegas Sun
Homebuilders say real estate news isn’t all bad “...Separately, Local Market Monitor of Cary, N.C., issued its latest Home Price Forecast and Las Vegas ranked on the negative end of that study, which covers more than 300 U.S. markets. The forecast predicts local market behavior over the next 12 months...”
KUHF Houston Public Radio
Business News-Houston Home Prices “A national real estate forecaster (Local Market Monitor) says Houston home prices should do pretty well over the next year. Jack Williams reports.... ”
Realtor.org
Top Rising, Falling Housing Markets “When the recovery in housing finally comes, some housing markets will rebound sooner than others. Real estate forecasting service Local Market Monitor, which covers the nation’s 300 largest markets, has identified 13 markets where it predicts home prices will rise in the coming months and 11 markets where it expects home prices will continue to decline significantly... ”
Houston Business Journal
Report: Houston home prices to perform well “Home prices in the Houston-Sugar Land-Baytown metropolitan area are expected to be among the strongest in the nation over the next 12 months, according to the latest Home Price Forecast from real estate forecaster Local Market Monitor... ”
Democrat and Chronicle
Rochester expected to be among best housing markets “From the “It’s Better to Be Living in Western New York than Las Vegas” file: Rochester, Buffalo and Syracuse are expected to be among the best housing markets in the nation over the next 12 months, according to a new forecast by Local Market Monitor, a real estate market analysis firm...”
The Dallas Morning News
Forecast: Dallas will be one of country's most stable home markets “The Dallas area is getting high marks in another national housing forecast. Dallas ranks third nationally among metro areas expected to have the best home price performance this year, according to Local Market Monitor, a North Carolina housing sector consultant... ”
ArkansasBusiness.com
Study Predicts Solid Housing Prices in Little Rock, Texarkana, Fort Smith “The Little Rock metropolitan statistical area is expected to have one of the best home-price performances among large markets in the coming year, while Fort Smith and Texarkana are expected to be among the best performing small markets, Local Market Monitor of Cary, N.C., announced on Tuesday... ”
WBRZ News2 Louisiana
Report: BR among top home-price performers “Baton Rouge appears on a list of markets with the best expected performance over the next 12 months in home price — among areas with populations greater than 600,000...”
Tulsa World
Tulsa housing market predicted to fare well “The list, released by Local Market Monitor, a Web-based producer of housing forecasts, placed the Tulsa area at No. 11. Oklahoma City was ninth. Carolyn Beggs, chief operating officer of Cary, N.C.-based Local Market Monitor, said the company expects home prices in the area to hold steady over the next year, while prices will drop 6.6 percent for the nation as a whole... ”
SmartMoney Magazine
Deep-Discount Domiciles “Falling prices don't always equal a good buy, but neighborhoods where prices are low relative to rents and demographic factors are more likely to take off...”
BankRate.com
BankRate's 2009 Real Estate Guide: Home prices will keep falling in '09 “...Local Market Monitor, which studies 300 metro areas, anticipates an average 8-percent drop in home prices nationally during the next 12 months...”
The Fayetteville Observer
Fayetteville housing market in top 10 “This time, the city is one of 10 markets across the country that Cary-based Local Market Monitor expects will have the best home price performance over the next year, out of about 300 markets... ”
NBC New Channel 11-Lubbock
National forecast predicts good news for Lubbock housing market “...That's why Local Market Monitor's latest home price forecast ranked Lubbock among the top ten markets in the country for best expected performance in home price. The Lubbock market has steadily increased in the past few months, and the report expects it will continue to increase by at least 2% in the next year. The forecast predicts the housing market nationwide will drop 8%... ”
Reporter News
Abilene in top 10 for home prices “...The Local Market Monitor, which is based in North Carolina, is predicting increases in home values of at least 2 percent for each of the cities named in the top 10 list... ”
Lafayette-Journal & Courier
Home prices list likes local market “...The company's Home Price Forecast puts Lafayette in the top 10 among communities with the best expected performance in home price, with predicted increases of at least 2 percent over the next 12 months...”
BankRate.com
30-City Home Sale Outlook “...There's not going to be a quick snapback of demand and snapback in volume, and particularly there's not going to be the same kind of growth in prices that we've seen in so many markets in the last five years or so," he says. "I also believe there is a moderate chance that we're actually in a recession right now, and a recession that's driven by the fact that consumers don't have any money left...”
The Real Estate Blog & American Chronicle
5 Steps in Helping Choose an Investment Property Location “...Get economic investment reports - Ingo Winzer is the president of the Local Market Monitor and a graduate of MIT. He’s a smart well respected guy who provides excellent National Review of Real Estate Markets reports for local real estate markets...”
The Wall Street Journal
What to Do In a Market That Is Headed For a Falloff “...According to Mr. Winzer, any market that's more than 30% overvalued is due for a correction. In the fall of 2003, only eight markets on the list of 152 fit that description; on this year's list, 37 did. Sure enough, price decreases are beginning to pop up in many of the markets that have shown up year after year as the most overvalued -- especially in Florida and California...”
SmartMoney Magazine
After the Housing Boom “...The most recent boom now looks most like a bubble in markets that have shown up year after year as the most overvalued — especially in Florida and California, which account for 24 of the top 25 overvalued spots in this year's survey. Now those markets may be falling back to earth. According to Winzer, any market that's more than 30% overvalued is due for a correction...”
Las Vegas Review-Journal
Housing Market: LV Prices Sky High? “...Winzer's calculations show that Las Vegas has an average home price of $296,500, well above the $231,000 average that he said economic fundamentals warrant. That means Las Vegas is 28 percent overpriced, in Winzer's view...”
CNNMoney.com
Most Overpriced Home Markets “...The median home, however, is still overpriced by an average of more than 14 percent, Winzer judges, and homes in many markets are still way too high. This matters because those markets have much more potential for the kind of steep decline that could be disastrous for homeowners - and the local economy...”
Barron’s; The Wall Street Journal
The Big Glut, Trouble in Paradise “...Statistics compiled for Barron's by The Local Market Monitor, a Wellesley, Mass.-based consulting firm, show just how big a role can be played by investors. In Myrtle Beach, S.C., long a favorite vacation and retirement destination, investors owned a full 58% of properties in 2004, the last year with available data. Though Florida communities accounted for eight of the top 10 investor-owned hot spots, Wilmington, N.C., clocked in at 38%, Las Vegas at 26%, and Honolulu at 23%. The normal level is closer to 14%...”
CNNMoney
Real estate: When booms go bust... “...Winzer considers real estate "very risky right now." And because the price run up has been so high he expects the adjustment period – where home prices stagnate as income catches up -- to take a very long time. Before they purchase a home, buyers better figure on scenario of many years of little or slow home-price appreciation. Counting on home price increases could be a big mistake...”
CNN
CNN interview - Transcript from live interview “...The local economy has a lot to do with it. You can generally say that markets with strong employment growth are going to have strong demand for housing, and, therefore, strong home prices. There are other markets where the economy has done poorly the last few years, where the market just doesn't support the prices...”
US News & World Report
Second Home Deals “...While most primary markets in the country might be up 3 or 4 percent in the past year, "many places in California and Florida might be up 10 to 15 percent or more," says Winzer. This frenzy, of course, isn't good news for housing affordability. Winzer crunches local income levels, then compares them with a market's median prices. By his calculations, Fort Lauderdale at $238,500 is now 36 percent overpriced, West Palm Beach at $262,300 is 29 percent too high, and Honolulu at $333,900 is 25 percent overpriced. Atlantic City/Cape May on the Jersey shore, at $299,800, is 56 percent above what it should be...”
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