The Housing Chronicles Blog: The best and worst markets for 2009

Tuesday, February 24, 2009

The best and worst markets for 2009

Wondering where the housing market might rebound first and/or perform best in 2009?

Builder magazine, in tandem with sister company Hanley Wood Market Intelligence, has researched and identified the top 15 markets. Texas and the Carolinas perform particularly well on this list. From the article:

To compile these lists, we analyzed the top 75 housing markets in the country. We ranked them based on population trends and job growth, perennial drivers of housing demand. We also examined what’s happened with home prices; many of the healthiest markets have managed to hold the line on home values. And finally, we considered the rate building permits, which may be the single best ongoing indicator of builder confidence in a market. We combined all these metrics to produce a score for each market.

The top 15, in reverse order:

15. Myrtle Beach, South Carolina
14. Wilmington, North Carolina
13. Charlotte, North Carolina
12. Denver, Colorado
11. Nashville, Tennessee
10. Washington, D.C.
9. Fayetteville, North Carolina
8. Indianapolis, Indiana
7. Seattle, Washington
6. Raleigh, North Carolina
5. Dallas, Texas
4. San Antonio, Texas
3. Ft. Worth, Texas
2. Austin, Texas
1. Houston, Texas

The magazine has also prepared a similar list of of the worst 15 markets for 2009, which you can read about here. In that case, Florida and the central valley portion of California join the list of usual suspects. From that article:

While virtually every major metro market took a blow last year, the weakest markets were decimated by an unprecedented and lethal combination of job losses, falling home prices, and rising foreclosures.

The fundamentals are so poor in many of these markets that they are likely to be among the last to recover from the national housing downturn. As you’ll find as you click through the list, the weakest markets for 2009 are comprised primarily of bust markets in Florida and California, along with a few rust-belt cities with longer-term economic difficulties.

The bottom 15, in reverse order:

15. San Francisco, California
14. Lakeland, Florida
13. Sacramento, California
12. Cleveland, Ohio
11. Miami, Florida
10. Reno, Nevada
9. Melbourne, Florida
8. Fresno, California
7. Ft. Lauderdale, Florida
6. Naples, Florida
5. Daytona Beach, Florida
4. W. Palm Beach, Florida
3. Pt. St. Lucie, Florida
2. Stockton, California
1. Detroit, Michigan

No comments: