Housing Declines
Saturday, September 12, 2009 | Add a comment
According to Local Market Monitor on September 9th, a Real Estate forcasting service for Banks and Investors, home prices will decline about 5 % thru 2010. But after that there may be light at the end of the tunnel with price increases in several areas, according to CEO Ingo Wisner.
In the following markets home values are expected to remain level this year but increase in value next year. If you know anyone planning on moving in these areas, they are probably going to want to act soon before home prices increase.
- Baton Rouge, La.
- Buffalo-Niagara Falls, N.Y.
- Dallas-Plano-Irving, Texas
- Fort Worth-Arlington, Texas
- Houston-Sugar Land-Baytown, Texas
- Little Rock-North Little Rock-Conway, Ark.
- Omaha-Council Bluffs, Neb.-Iowa
- Pittsburgh, Pa.
- San Antonio, Texas
- Syracuse, N.Y.
Below are the 10 largest markets where prices are expected to continue to decline through 2010. It looks like the Bay Area is still going to suffer with declining prices for a bit longer.
- Fresno, Calif.
- Las Vegas-Paradise, Nev.
- Miami-Miami Beach-Kendall, Fla.
- Orlando-Kissimmee, Fla.
- Phoenix-Mesa-Scottsdale, Ariz.
- Portland-Vancouver-Beaverton, Ore.-Wash.
- San Jose-Sunnyvale-Santa Clara, Calif.
- Stockton, Calif.
- Tacoma, Wash.
- Tucson, Ariz.
