Comments Off on 10 Cities That May Be Signaling That The Worst Of Housing May Already Be Over

10 Cities That May Be Signaling That The Worst Of Housing May Already Be Over

2008
07.16

Last week, Forbes Magazine published a Top 10 list that should grab the attention of housing market bottom-feeders.

The Top 10 list of Increasingly Affordable U.S. Housing Markets shows that falling home prices and steady mortgage rates are providing a support floor in some of the country’s most beat-up regions.

The report’s methodology is simple:

  • Take citywide income data as reported by HUD
  • Match it against purchase prices from court records
  • Run the math using “prevailing interest rates” from Wells Fargo

A city is considered “more affordable” if increasing numbers of “average families” can afford “average homes”. It’s not surprising, therefore, that the Forbes list is dominated by cities in which home prices have plummeted over the last year, and in which he economy is relatively sound.

This may suggest that a housing rebound is already underway in several of the cities listed as Increasingly Affordable U.S. Housing Markets, including:

  • San Diego, CA
  • Orlando, FL
  • Riverside, CA
  • Phoenix, AZ
  • Las Vegas, NV

Read the complete study and its results at Forbes.com.

Related Articles:

Mark Taylor | Arizona Home Loans | Blarming | Will You Listen to Me | Arizona Short Sales | Arizona Foreclosures | Arizona FHA Loans | Arizona USDA Loans | Arizona HUD Homes | Ariona VA Loans | Fix My Broken Credit | Arizona Mortgage | Arizona Short Sale | Power Ranch Bank Owned Homes

Your Reply

You must be logged in to post a comment.