25 Best And Worst Housing Markets In America
February 17, 2009 by Site Supervisor
Filed under News
Forbes and Moody’s has published 25 of the best and worst housing markets in America.
Data was provided by Moody’s Economy.com. It looked at metro areas with populations over 500,000 to find those farthest from recovery. The firm prepared forecasts through 2011 and compared them to prices in the second quarter of 2008, the latest figures available, to calculate how far prices will likely fall before reaching bottom. The percent figures are for drop in prices between second quarter 2008 (latest figures available) and the projected bottom. Cities are listed by percent-change to bottom.
Top 5 Best Markets:
McAllen, Texas
Population: 784,900
Bottom expected: N/A
Forecast price change to bottom: 0%
Syracuse, N.Y.
Population: 647,200
Bottom expected: N/A
Forecast price change to bottom: 0%
Pittsburgh, Pa.
Population: 2,346,800
Bottom expected: end 2009
Forecast price change to bottom: -0.3%
Buffalo, N.Y.
Population: 1,118,100
Bottom expected: mid-2010
Forecast price change to bottom: -1.0%
El Paso, Texas
Population: 795,800
Bottom expected: mid-2010
Forecast price change to bottom: -1.0%
5 Worst Markets:
Las Vegas, Nev
Population: 2,053,700
When will the bottom be reached?: end of 2009
Forecast price change to bottom: -42.6%
Miami, Fla.
Population: 2,463,700
When will the bottom be reached?: late 2010
Forecast price change to bottom: -42.5%
Miami, Fla.
Population: 2,463,700
When will the bottom be reached?: late 2010
Forecast price change to bottom: -42.5%
Fort Lauderdale, Fla.
Population: 1,781,200
When will the bottom be reached?: mid-2010
Forecast price change to bottom: -36.6%
Provo, Utah
Population: 530,800
When will the bottom be reached?: mid-2011
Forecast price change to bottom: -33.9%