Where will the “Hot” real estate markets be in 2012?
What would be the best cities to buy real estate in?
Boy, wouldn’t we all love to know the answers to those questions! Considering this is, by far, the worst, and longest lasting, downturn in the real estate market I have seen in my 33 years in the biz, and, last week, Lawrence Yun, chief economist of the National Association of REALTORS, called this a “very strange” market since the market was not reacting to low interest rates and high affordability, I think it is tough for anyone to predict what is going to happen. Having said that, Inman News came out with a list of 10 markets to watch in 2012 that they feel are showing “signs of strength” in areas including price-appreciation, jobs and a high rate of sales to population. Below you will find the list and, beneath that, you will find some charts on some of those markets I put together to show what the markets are like as well as some charts for some cities I think are worth watching that are not on Inman’s top 10 list.Inman’s Top 10:
- Raleigh-Cary, N.C.
- Wichita, KS
- Rochester, N.Y.
- Des Moines-West Des Moines, IA
- Chattanooga, TN-GA
- Peoria, IL
- Amarillo, TX
- Binghamton, N.Y.
- Waterloo-Cedar Falls, IA
- Bloomington-Normal, IL
OK, at the risk of getting hate mail, I have to say it…when looking at this list I’m thinking Inman didn’t take into consideration desirability of some of these locations…..2 of the top 10 in Iowa?? Peoria and Normal in Illinois?? Anyway, below are some charts I put together for the real estate market in some of these locations.
Top 4 Markets -Des Moines – Wichita – Raleigh & Rochester
Market Action Index (1)
Top 4 Markets -Des Moines – Wichita – Raleigh & Rochester
Median Home Price
Top 4 Markets -Des Moines – Wichita – Raleigh & Rochester
Total Inventory-Homes for Sale
Some Markets I think are worth watching in 2012:
Chicago, IL
Market Action Index (1) and Median Home Prices
Chicago, IL
Inventory of Homes For Sale
Kansas City, MO
Market Action Index (1) and Median Home Prices
Kansas City, MO
Inventory of Homes For Sale
Sarasota, FL
Market Action Index (1) and Median Home Prices
Kansas City, MO
Inventory of Homes For Sale
Related posts:
- The 15 Best and 15 Worst Performing Real Estate Markets
- Where are the strongest and weakest real estate markets going to be in the next year?
- Best Real Estate Markets in the U.S? Nine of Ten Zips are in California
- 15 Best and Worst Performing Real Estate Markets
- What will be the best real estate markets in 2010? How about the worst?