Forbes: Top-10 Best Performing Housing Markets includes Austin

Looks like Austin is still comparatively right up there in the top 10 cities. The following is from Forbes Magazine.

Top-10 Best Performing Housing Markets
As anybody who has ever sold real estate knows, there are no national markets, only local markets. The adage holds true when you look at the condition of the real estate business nationwide. Business may be tough in many places, but it’s not tough all over.

In Salt Lake City, Charlotte, N.C., and San Jose, Calif., prices have climbed relentlessly.
In the Northeast, the biggest gainers are the gritty cities of Buffalo, N.Y., Pittsburgh, Pa., and Philadelphia.
In the West, business is brisk in Northern California and the Pacific Northwest.

Here are the top 10 best performing housing markets, according to Forbes magazine, their third quarter median home sale prices and the percentage that prices have risen compared to third quarter 2006.

Salt Lake City; Median Home Sale Price: $246,700; Percent Change: 14.1 percent
Charlotte, N.C., $220,000, 11 percent
San Jose, Calif., $852,500, 9.4 percent
San Francisco, $825,400, 8.6 percent
Raleigh, N.C., $229,500, 7.5 percent
Austin, $188,200, 7.2 percent
Pittsburgh, $127,700, 6.1 percent
Seattle, $394,700, 6 percent
San Antonio, $154,700, 5.7 percent
Portland, Ore., $299,700, 5.2 percent

2 thoughts on “Forbes: Top-10 Best Performing Housing Markets includes Austin”

  1. Keep in mind a few things as you read the above stats. First, those are just snapshots. Some of those markets,
    particularly San Jose and San Francisco, are very overpriced, and have been bleeding for quite some time,
    particularly after the last tech bust, post 2002……in light of the lending constrictions in the system now, particularly
    per jumbo, no-doc/adjustable loans, you will see a probable reverse in appreciation again in those high-priced cities
    for several years to come. Southern Cal and Nevada are going through the pain as we speak. If tech takes a hit
    as well, which could be the case as we head into an possible national recession, it will exacerbate the decline. These
    vectors are best seen as a momentary pick-up in a longer term downward correction. SLC, Austin, San Antonio, Raleigh, Pittsburgh, and Charlotte are coming off a relatively low valuation per national average, combined with relatively
    healthy economies per the national average. A slowdown in the national economy, possibly sliding into recession,
    along with a tightening lending market, should bring these appreciation levels down as well next year, bordering on flat.
    To sum, just snapshots, that most assuredly don’t reflect the macro lending market driving these appreciation levels
    in the first place……

  2. To have any appreciation in any major metro lately is quite impressive though. I would say that business is good in these cities! I have also experienced some of the Salt Lake City market as well. How are the condos doing there? Mine were successful. Madison WI Real Estate has been pretty successful lately as well, but most of the growth is now in outlying communities because Madison is so non-business friendly. I would still guess that prices have come down a bit.


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