Friday, December 14, 2007

Housing Markets That Are Still Thriving

Daily Real Estate News | December 11, 2007
Housing Markets That Are Still Thriving

Home prices also jumped more than 10 percent in second home markets in Utah, Idaho, and Colorado.

"They're doing so well because they're getting the run-off from California, Nevada, and Arizona," says Jeannine Cataldi, senior economist for Global Insight. "When prices got so high [in those states], people said, 'there must be places that are more affordable.’”

The best-performing housing market in the country during the third quarter was picturesque Wenatchee, a city of more than 35,000 that is the seat of Chelan County, Wash. Prices in the Wenatchee metro area increased by 15.7 percent year over year, according to RealtyTrac.

Here are the top 10 best performing markets in the country:

Wenatchee, Wash.: 15.7 percent
Provo-Orem, Utah: 14.35 percent
Grand Junction, Colo.: 14.05 percent
Ogden-Clearfield, Utah: 13.95 percent
Salt Lake City: 13.37 percent
Idaho Fall, Idaho: 11.69 percent
Austin-Round Rock, Texas: 9.67 percent
Beaumont-Port Arthur, Texas: 9.44 percent
Asheville, N.C.: 9.44 percent
Billings, Mont.: 9.07 percent

Source: BusinessWeek, Prashant Gopal (12/10/07)

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