Austin 4th -Cities Where Real Estate Is Ripe For A Rebound

Cities Where Real Estate Is Ripe For A Rebound

The folks at Local Market Monitor, a Cary, N.C.-based real estate research firm, helped us compile this list. They sorted through a plethora of housing and economic data for the 100 most populous cities and their surrounding suburbs, defined as Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MSADs) by the U.S. Office of Management and Budget. 

They assessed home prices over the past 12 months, unemployment rates, 12-month job growth projections, population increases from 2006 through 2009 (the most recent data available from the U.S.Census) and new-home construction rates for the third quarter of 2011 as compared to the same quarter in 2010. Home price changes over the past three years were also taken into account, as markets that lost less value in the downturn have the potential to recover and appreciate that much faster.  

Austin Metro Area

Home Prices, past 12 months: 2% decrease

Home Prices, past 3 years: 2% decrease

New Construction: 20%

Population Growth: 11%

Job Growth: 1.5%

Unemployment: 6.6%

All Ranking Cities:

1 - San Jose, CA

2 - Houston, TX

3 - Raleigh, NC

4 - Austin, TX

5 - Boston, MA

6 - Pittsburg, PA

7 - Fort Worth, TX

8 - Oklahoma City, OK

9 - New Orleans, LA

10 -Rochester, NY

 
Full List: The 10 Cities Where Real Estate Is Ripe For A Rebound

Credit: Jeff Gardner/istockphoto Date: January 11, 2012