Ten markets that are leading the real estate recovery

Congratulations Boise, Idaho in helping lead the real estate recovery! You can see the receovery anytime you drive throughout the valley with all of the infrastructure projects, commercial and residential building and developments taking place. Way too go Boise let’s go for #1!!!

Real Estate Recovery 300x200 Ten markets that are leading the real estate recoveryThe real estate market has been to showing many positive signs in past couple of months. Some markets are showing more strength than others.  Here are the ten markets that are leading the recovery:

• Detroit: Detroit is working its way up to the top of recovery just as it was at top of the recession chart. Prices were extraordinary high with a 12.37% year over year in December 2012. Although the city has yet not recovered from high unemployment, foreclosures are down by 31% for the year (2012). While the national average of selling a house is 111 days, realtors and house owners in Detroit are selling most houses within 70 days of listing.

• Iowa City: Iowa is known for its universities, amazing amenities and hospitality. The price of homes here has jumped up by 11.8% in 2012. The fact that the city’s top employers include major Fortune 500 companies such as Procter & Gamble, Lear and Pearson, Penguin books and the Financial Times news group, boosts up its image even more and generates interest among buyers to have a home here.

• Boise: Boise, the capital of Idaho is not far behind on the list. Median prices are up 9.1% for the year. Houses are available within the reach and are usually sold within an average of just 79 days. The unemployment rate of Boise is well behind the average with just 6.2%. The biggest employers of the city include Boise-Cascade Wood and Paper Products, Morrison Knudsen Engineering and Micron Technology. These employers have given the city a boost as the home buyers‘ check lists most often has this point included – employment opportunity.

• Tulsa: Tulsa’s economy is based on aviation, manufacturing and transportation. The city, known for its economy living, has unemployment of just 5.3% at the moment. Houses in average cost $148,900, which has gone up at a rate of 6.47% during last year.

• Ann Arbor, Mich: An archetype university town, homed to the University of Michigan that employs approximately 30,000 local residents, entered the list for concrete reasons. The current unemployment is just 5.1% and average home prices have risen by 6.25% in 2012.

• Nashville: Nashville’s economy is purely based on health care. Approximately 250 healthcare-related organizations are homed here. Average price was $194,900 in December — a 5.35% increase compared to the previous year.

• Pensacola: Base of the Pensacola Naval Air Station, this Panhandle city’s home prices jumped by 3.84% during the past year to $183,800.

• Oklahoma City: Another archetype university town with amazingly low unemployment rate of just 4.6%. The metropolitan area’s average price was just $155,000 in 2012. Largest local employers include Chesapeake Energy, Dell and the Federal Aviation Administration.

• Corpus Christi, Texas: This city by the Gulf with its economy living standard, low unemployment rate of 6.1% and moderate housing cost have helped the real estate grow up to 3.18% during the year.

• Shreveport: Shreveport has a standard economy, strong job growth and surprisingly low unemployment rate. Its average pricing for houses increased by 3% in 2012 and are expected to grow in this year as well. The city predicts addition of another 1,500 new jobs to the economy by the end of 2013.

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This entry was posted in Banks, Boise, Boise Homes, Boise Real Estate, Business, Eagle, Economy, Fannie Mae, FHA, Finance, First Time Buyers, Fixed Rate Mortgage, Foreclosure, Foreclosure Crisis, Freddie Mac, Home, Homes in Boise, Homes in Idaho, Housing, Housing Recovery, HUD, Idaho, Meridian, Money, mortgage, Mortgage, Mortgage Bankers, Mortgage Bankers Association, National Association of Realtors, News, Real Estate, Real Estate Professional, Realtors, Refinance, U.S. Home, U.S. House, U.S. Housing. Bookmark the permalink.

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