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Local Market Monitor Press ReleaseLocal Market Monitor Releases Latest Home Price Forecast for Smallest US Markets Real estate forecasting solution identifies Top 10 and Bottom 10 housing markets for both the large and small Metropolitan Statistical Areas (MSAs) CARY, NC – June 23, 2009 – Local Market Monitor, the premier real estate forecasting solution, today released its latest Home Price Forecast, covering well over 300 US local markets. The forecast, which predicts local market behavior over the next 12 months, identifies markets where home prices will continue to drop as well as stable markets with opportunities for growth.According to the forecast, among the smallest US markets—identified as those with populations less than 600,000—the 10 markets with the best expected performance in home price are:
These top markets, where home values are expected to remain level, are among those markets that did not have a big housing boom. Home prices in these areas are generally below the US average and reflect where the recession has so far had a relatively mild impact. The 10 smallest markets with the worst expected performance in home price are:
These markets, which are expected to have the largest declines in home values over the next year, are also among those that previously had the biggest price booms. This was attributed in large part to speculative buying, including the repercussions of inflated housing construction on the local job market and investor portfolios. |
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