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Even in a tough market, 63 of the 100 biggest markets are due to see a rise in 2007.
By Kate Nugent, Money Magazine
NEW YORK
(Fortune) -- Many Americans looking at the values of their homes are
asking not whether it will fall, but how much. But in fact, more than
half of the 100 top markets in the U.S. are slated to rise next year.
10 Housing Markets Projected to Rise
|
Metro area |
2007 projected price change |
2008 projected price change |
Median home price |
|
McAllen-Mission, Texas |
8.50% |
9.80% |
$69,660 |
|
El Paso, Texas |
7.10% |
4.40% |
$124,410 |
|
Albuquerque, N.M. |
5.90% |
0.60% |
$179,620 |
|
Salt Lake City |
5.40% |
1.90% |
$186,230 |
|
Syracuse, N.Y. |
4.80% |
3.60% |
$117,540 |
|
San Antonio |
4.80% |
3.50% |
$139,830 |
|
Rochester, N.Y. |
4.50% |
4.20% |
$116,090 |
|
Baton Rouge, La. |
4.50% |
2.80% |
$170,240 |
|
Fort Worth-Arlington, Texas |
4.40% |
3.50% |
$127,470 |
|
Birmingham, Ala. |
4.40% |
3.50% |
$165,740 |
|
|
|
|
The picture in many parts of the country isn't pretty. In 2007, 36 of the 100 biggest markets are expected to see price declines. For 2008, that number rises a notch to 37.
But the housing market looks healthy in the Southeast, where the top market, McAllen, Texas, is predicted to rise 8.5 percent in 2007, and another 9.8 percent in 2008. In fact, four of the hottest U.S. home markets forecast for next year are in Texas. Also on the list are two markets in upstate New York -- Syracuse and Rochester.
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