Housing Predictor has released its annual forecast of the best housing markets in the US for the New Year, selecting what it reckons will be the twenty-five best and worst markets nationwide, with this year’s report making for some interesting reading.
The predictions reveal that US housing markets are in for something of a revival, with inflation expected to be seen in the highest number of local markets for four years. While the economic outlook remains grim, real estate markets in fourteen states are forecast to appreciate over the next 12 months, a sign that many are finally beginning to stabilize after years of decline.
However, with the number of markets expected to experience deflation outweighing those which will grow, it’s clear that things will be far from rosy in 2012.
Altogether, Housing Predictor has made projections for 230 housing markets across America’s 50 states.
The forecast for the best housing markets in 2012 shows that a wide cross-section of US cities are predicted to do well, something that lends weight to the argument that local economic and political factors have the biggest say in local market’s performance, rather than national factors.
Kansas City leads the way according to Housing Predictor, with a 5.8% appreciation forecast in its local housing market, thanks to a strong demand for agricultural products such as soy beans and corn.
West Virginian markets are also expected to do well next year, with three of its cities landing in Housing Predictor’s top ten. This is thought to be due to the affordability of homes in the state, which is attracting thousands of newcomers from elsewhere.
For more information, check out the top 25 best housing markets on the Housing Predictor website.