Article Hurricane Katrina Damage
Article Hurricane Katrina Damage
Top 25 Market Forecast Shows Real Estate Stabilizing
Top 25 Housing Predictor U.S. Market Forecast for 2007 shows an increasing tendency for local real estate market, are stabilizing with thirteen states were represented in the annual forecast. Housing Predictor is an information-driven website that provides independent local housing market forecasts for all 50 U.S. states.
The fight back from the headlines New Orleans, Louisiana is Housing Predictor's # 1 pick to appreciate the most in 2007. Despite the loss of nearly half of its inhabitants, the Big Easy a thriving real estate market that is growing almost daily, and is expected to appreciate 8.4% in 2007.
The fixer-upper has become the new major commodity in New Orleans real estate as investors move into the market to repair homes and apartments damaged in the wake of Hurricane Katrina more than at any other time in a natural disaster in the U.S. More than 150,000 homes were damaged or destroyed by Katrina, which struck in August 2005.
The spirits of the population of New Orleans is becoming less tarnished in the wake of the storm. New Orleans has always had a spirit of revelry and showmanship, especially at Mardi Gras. It can also have received a boost in the form of the New Orleans Saints NFL football team that has had its best season in years.
Houston, Texas, a city that has been besieged by scandals with Enron and other corporations are transforming themselves to a robust real estate market for the first time in more than a decade. Houston expects Housing Predictor to appreciate 7.3% in 2007 to place second in the forecast.
Nation's southern states are under going the largest growth in history as a migration from colder northern states to the sun-belt quietly up near fever pitch. Arkansas, Alabama, Texas and Tennessee are adding more new residents than ever before. Little Rock, was once a slumbering community several new businesses moving into the area than ever and will hit 7.0% in home appreciation in 2007, according to Housing Predictor.
Nashville, Tennessee, recognized as Music City player on his own good fortune as a growing metropolitan area, along with Odessa, Texas has some of the most affordable housing in the nation and will both hit 6.9% appreciation by year end.
Top 25 markets represent slightly more than a quarter of the country's states. All 13 states have the local property market that values strong.
In the west, Washington state and Utah real estate market that shows appreciation, which shows how real estate as opposed to other investments made by local, regional market economic and political factors.
In Albuquerque, New Mexico had sales of homes and condominiums fell for a few months only to pick up again as more and more new employers moved to the area. Albuquerque is a growing city that is expected to appreciate another 6.5% in 2007.
But of all places, which made the annual Top 25 market list Brownsville and Austin, Texas are two of the strongest U.S. real estate market. Just a few short years ago after a high-tech boom went bust Austin lost population, but a renewed economy and more computer companies moving into the area has pushed the city into a thriving economy again and it will score an estimated 6.1% in appreciation in 2007. Brownsville, who is in seventh place on the list is perhaps the best place to find the cheapest housing in a city U.S.
About the Author
Mike Colpitts is the Editor of Housing Predictor, which forecasts future housing markets in all 50 U.S. States. To see the entire list of the Top 25 Real Estate Markets for 2007 in the nation, and get the latest on more than 250 local markets visit <a href=”http://www.housingpredictor.com” title=”http://www.housingpredictor.com” target=”_blank”>http://www.housingpredictor.com</a>