- Dennis Norman
As 2009 quickly draws to a close and the housing market continues to be in dismal condition, it would sure be nice to know what next year holds in store. Will the housing market finally see a recovery? Or, will the number of homeowners that are “underwater” on their mortgages sustain the record number of foreclosures going forward and continue to put downward pressure on the market and prices? Unfortunately these are tough questions and I don’t have the answers. What I do have though, is the latest home price foreccast from Local Market Monitor showing the areas of the country they feel home prices will do the best, and worst, in the next 12 months. 
The report is broken into two sections; Large metro areas (population over 600,000) and smaller metro markets. Before I give the list of the large metro areas expected to perform the best in the next 12 months I should mention that, according to the report, “don’t yet show price increases; rather, they’re markets where prices will be steady.”
Large Metro Areas where the Housing Market ie Expected to do the best:
- Baton Rouge, LA
- Colmbia, SC
- Fort Worth-Arlington, TX
- Houston-Sugar Land-Baytown, TX
- Little Rock-North Little Rock-Conway, AR
- New Orleans-Metairie-Kenner, LA
- Pittsburgh, PA
- Rochester, NY
- San Antonio, TX
- Santa Ana-Anaheim-Irvine, CA
Large Metro Areas where the Housing Market ie Expected to do the worst:
- Bakersfield, CA
- Bradenton-Sarasota-Venice, FL
- Fort Lauderdale-Pompano Beach-Deerfield Beach, FL
- Fresno, CA
- Las Vegas-Paradise, NV
- Miami-Miami Beach-Kendall, FL
- Orlando-Kissimmee, FL
- Phoenix-Mesa-Scottsdale, AZ
- Portland-Vancouver-Beaverton, OR-WA
- San Jose-Sunnyvale–Santa Clara, CA
- Stockton, CA
- West Palm Beach-Boca Raton-Boynton Beach, FL
Can you say OUCH, Florida??
Small Metro Areas where the Housing Market ie Expected to do the best:
- Abilene, TX
- Brownsville-Harlington, TX
- Florence-Muscle Shoals, AL
- Kennewick-Pasco-Richland, WA
- Lake Charles, LA
- Muncie, IN
- Odessa, TX
- St. Joseph, MO-KS
- Texarkana, TX-Texarkana, AR
- Waco, TX
According to the report, the above areas are expected to see 2-4 percent appreciation in the next twelve months. Small markets like these will have stronger home prices than larger markets because they had less excessive home building.
Small Metro Areas where the Housing Market ie Expected to do the worst:
- Bend, OR
- Boise City-Nampa, ID
- Cape Coral-Fort Myers, FL
- Deltona-Daytona Beach-Ormond Beach, FL
- Modesto, CA
- Naples-Marco Island, FL
- Port St. Lucie, FL
- Prescott, AZ
- Reno-Sparks, NV
- St. George, UT
- Vallejo-Fairfield, CA
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[...] that Baton Rouge will be one of the top 10 best real estate markets in 2010! Their article is here! Here’s a snippet from their [...]
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That sounds very good nonetheless i’m just still not so certain that I prefer it. Anyways will look more into it and choose for myself! :)
Lawrence Yun, NAR chief economist, said the improvement bodes well for home prices. “Absorption of inventory is the key to price improvement, and this solid gain in contract signings implies that home values in many localities are or will soon be stabilizing as inventories get absorbed at a faster pace,” he said. “Some markets have made a rapid turnaround, going from soft activity to contract signings rising by more than 30 percent from a year ago, including areas such as Hartford, Conn.; Indianapolis; Minneapolis; Houston; and Seattle.”