States with strongest housing markets – With the housing market in general seeming to be making a slow but noticeable recovery things overall may be on the up. Of course it’s not all smooth sailing and some places are still doing terribly, however some seem to be doing quite well.
States with strongest housing markets
States with strongest housing markets
So which States are doing well in this slow recovery? Luckily the research seems to have been done and below you’ll find a list sourced from 24/7 Wall St.
You may be wondering how they determined “the best”. Well they say they used “Corelogic Home Price Index for the year that ended in July. We also reviewed foreclosure data from RealtyTrac to reflect the extent to which foreclosures rates undermine ongoing recoveries. We obtained home price forecast for the near-term, measured from the first quarter of 2012 to the first quarter of 2013, the first quarter of 2013 to the first quarter of 2014, and the first quarter of 2012 to the first quarter of 2017 from Fiserv. Median sales prices as of Friday, August 28 are from Trulia. State unemployment as of July 2012 is from the Bureau of Labor Statistics.”
Ok, here is the list:
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10. Montana
> 1 yr. home price change: +5.6%
> Median home price: $151,300
> Unemployment rate: 6.4% (15th lowest)
9. Hawaii
> 1 yr. home price change: +5.7%
> Median home price: $522,000
> Unemployment rate: 6.4% (14th lowest)
8. South Carolina
> 1 yr. home price change: +6.3%
> Median home price: $129,900
> Unemployment rate: 9.6% (6th highest)
7. Florida
> 1 yr. home price change: +6.6%
> Median home price: $236,000
> Unemployment rate: 8.8% (12th highest)
6. North Dakota
> 1 yr. home price change: +7.1%
> Median home price: $88,600
> Unemployment rate: 3.0% (the lowest)
5. Colorado
> 1 yr. home price change: +7.3%
> Median home price: $240,000
> Unemployment rate: 8.3% (20th highest)
4. South Dakota
> 1 yr. home price change: +8.3%
> Median home price: $101,700
> Unemployment rate: 4.4% (3rd lowest)
3. Utah
> 1 yr. home price change: +9.3%
> Median home price: $129,000
> Unemployment rate: 6.0% (11th lowest)
2. Idaho
> 1 yr. home price change: +10%
> Median home price: $85,000
> Unemployment rate: 7.5% (25th lowest)
1. Arizona
> 1 yr. home price change: +16.6%
> Median home price: $248,229
> Unemployment rate: 8.3% (18th highest)
Interesting list! More detail about each state and the general activity in the market can be read in the full article from 24/7 Wall St.
Do you live in any of these States? If so how have you found the housing markets? Also if you are not in these states how volatile or stable have you felt the market in your local area?
Thanks for reading - States with strongest housing markets
