Hottest Real Estate Market 2007
There are still hotly appreciating real estate markets in the
U.S., according to a nationwide survey conducted by Housing Predictor.com, which
forecasts housing markets futures in more than 250 local housing markets in all
50 U.S. states.
Driven by booming local economies and unprecedented growth, the Hottest 10 Buyers Markets in the U.S. are mainly located in the southern half of the nation. Five of the Hottest 10 Markets in 2007 are located in Texas.
The Top spot, however, is Albuquerque, New Mexico, which is projected to appreciate 9.1% by the year's end. Exploding with a population of almost a million people for the first time in its history, Albuquerque is growing like never before, attracting the movie business from Hollywood with the construction of new movie studios, a new airplane factory and many other new businesses.
Housing Predictor's selection of the Hottest 10 Buyers Markets are based on surveys conducted on 75 markets under consideration from more than 250 local housing markets forecast on the web site.
McAllen, Texas was selected as the runner-up to Albuquerque to place second among the top 10 markets forecast for the highest appreciation throughout the remainder of the year. Four other Texas markets made the list, reflecting a state real estate market in the Lone Star state that is appreciating at levels not seen in many years. Housing Predictor forecast the current boom in Texas in early 2006.
Salt Lake City, Utah placed third. Salt Lake is experiencing the beginning of a slow down in its housing markets after nearly a 20% increase in appreciation in 2006. The brakes, however, won't hit the market until late this year, keeping Salt Lake at a rich stride through the end of the year, according to Housing Predictor.
The Hottest 10 Buyers Markets represent growing local economies, which are sure to foster growth into 2008 and perhaps into the following decade as the composition of the U.S. population changes, resulting in major changes in the housing market nationally.
New Orleans, Louisiana placed fourth, followed by Austin, Texas, Houston and Biloxi, Mississippi, which is experiencing unprecedented growth with a booming local economy in the wake of Hurricane Katrina, which devastated the Gulf Coast Community.
Biloxi has risen from the depth of destruction to re-open casinos and entertain gamblers at its casinos again. A new condominium preconstruction boom is taking the place on the old waterfront. Eight new major condominium developments are already under construction with another dozen in the planning stages.
About the Author:
Mike Colpitts is the Editor of Housing Predictor. To see the entire list of the Hottest 10 Buyers Markets in the nation, check on your local markets future and search real estate listings visit http://www.housingpredictor.com