Top 25 Markets Shake-Up

Top 25 Markets Shake-Up

The once top-rated housing market Yakima, Washington is beginning to run out of gas, and falls from the number #1 forecast position in Housing Predictor's Top 25 markets for 2008.

After years of strong sales and appreciation, the Yakima market is slowing and is forecast to slide over the rest of the year. A ripple effect of tighter mortgage lending standards and increasing inventory is beginning to impact the marketplace.

Biloxi, Mississippi all but destroyed by Hurricane Katrina, is in the number one position. A government sponsored program is helping the area rebuild what was once the second largest casino business in the country to Las Vegas.

The Top 25 with the highest forecast appreciation have the greatest probability of reaching their forecast of the more than 250 local housing markets Housing Predictor forecasts.

Conservative North Dakota with one of the strongest statewide economies nationally, and the lowest subprime mortgage activity in the country, placed three cities on the list. Four states each placed three communities on the list.

Interestingly, the top markets for 2008 are scattered throughout all parts of the U.S. from the west to the east and into the southern states. No particular region of the country was more dominate than another as more and smaller communities based on population made the Top 25, which have less appreciation forecast than earlier in the year.

Rank Real Estate Market 2008 Forecast

1. Biloxi, MS 4.9%
2. Salem, OR 4.7%
3. Bismarck, ND 4.6%
4. Spokane, WA 4.4%
5. Yakima, WA 4.1%
6. Austin, TX 4.0%
7. Grand Junction, CO 4.0%
8. Fargo, ND 4.0%
9. Mobile, AL 3.9%
10. Idaho Falls, ID 3.8%
11. New York, NY 3.8%
12. Glen Falls,NY 3.8%
13. Salt Lake City, UT 3.8%
14. Grand Forks,ND 3.8%
15. Pascagoula, MS 3.8%
16. Hattiesburg, MS 3.7%
17. Albuquerque, NM 3.5%
18. Kellogg, ID 3.5%
19. Boise, ID 3.5%
20. Provo, UT 3.1%
21. Ogden, UT 2.7%
22. Edmond, OK 2.6%
23. Oklahoma City, OK 2.5%
24. Amarillo, TX 2.4%
25. Lubbock, TX 2.3%