5 Cities Where Real Estate is expected to do well in 2010
2010 Real Estate Markets Forecast Increasing Property Values
According to Smart Money, real estate recovery depends on several factors. At the top of the list is a turnaround in the labor market. More people going back to work will have a beneficial effect on household income and consumer confidence and would stabilize the housing market, As of November, one of out every 10 American workers is unemployed, according to the Bureau of Labor Statistics. In addition, while that is down slightly from October, Moody’s expects the jobless rate to peak in the third quarter next year at 10.6%.
Another factor is the backlog in foreclosures, which are dragging down values and adding to the housing supply. 2010 is expected to bring more foreclosures to market dragging down the real estate home values.
The five metro areas that are expected to do well in 2010 started with limited supply of housing stock. Another important characteristic that is shared by these metro areas is that they did not go through price boom and prices stayed in synch with household income.
The five areas are:
1. Tacoma, Washington
2. Memphis, Tennessee
3. Pittsburgh, Pennsylvania
4. Charleston, South Carolina
5. Seattle, Washington
CLICK HERE to read article, which explains in detail on why real estate will do well in these metro areas in 2010
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