El Paso forecasted #1 for housing market recovery
September 27, 2011
el paso ranked first for housing- market recovery - forecasted in leading the nation in home price inflation for 2011
As the U.S. undergoes the most severe down turn in its housing markets since at least the Great Depression, 25 local markets are progressing through the transition forecast to experience housing price inflation during the remainder of 2011. Driven by a U.S. military realignment program and a robust local economy El Paso, Texas located on the border of Mexico takes the #1 position.
El Paso is now forecast to lead the nation in home price inflation for the year at an average of 3.7%. Other cities that made it into the top ten rankings included:
|
Rank |
City |
Forecast |
|
1 |
El Paso, TX |
3.7% |
|
2 |
Tri-Cities, WA |
3.4% |
|
3 |
Omaha, NE |
3.3% |
|
4 |
Fargo, ND |
3.3% |
|
5 |
Austin, TX |
3.3% |
|
6 |
New Orleans, LA |
3.2% |
|
7 |
Iowa City, IA |
3.2% |
|
8 |
Bellevue, NE |
3.1% |
|
9 |
Bismarck, ND |
3.1% |
|
10 |
Bethesda, MD |
3.0% |
Housing Predictor.com debuted on the Internet in 2006 to provide independent housing market forecasts for consumers to gauge the probability of their markets inflation or deflation in value. Forecasts are issued at the beginning of each calendar year for communities in all 50 U.S. states, and updated throughout the entire year as local market conditions demand.
Researchers gather about 20 factors on each and every market forecast, including: income levels, employment rates and trends, commercial and residential construction, school enrollment levels, business openings and closings, new business development, regional political influences, real estate sales history and current housing market velocity. All of the factors are compiled and individually analyzed market by market to determine micro market characteristics. Analysts then review each market separately to forecast the percentage each individual market will increase or decrease in average housing prices.
All of the information is gathered from hundreds of sources, including public county recorder offices, state agencies, federal agencies, closing agents, attorney offices and others developed over the course of our research on an on-going daily basis without bias or prejudice to issue the forecasts.
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