Builder Magazine Announces Top 20 Housing Markets for 2010
Boyce Thompson’s article in Builder Magazine listed the 20 healthiest housing markets for 2010 that are poised to recover more quickly than other markets in the US. His premise is: “Housing economists have long held that the housing rebound, when it comes, will be uneven. The markets that benefit first will be the ones with the strongest core dynamics; places where house prices never got out of hand, cities where a diverse and progressive employment base drives job creation, towns that continue to draw population despite the economic recession.”
It is of very little surprise to me that the Austin MSA is number one on this list. The other top markets (including the surrounding municipalities are:
20 – Des Moines, Iowa
19 – Greenville, SC
18 – Houston, TX
17 – Wilmington, NC
16 – Portland, OR
15 – Myrtle Beach, SC
14 – Colorado Springs, CO
13 – Minneapolis, MN
12 – Richmond, VA
11 – Dallas – Fort Worth, TX
10 – Eugene, OR
9 – Durham, NC
8 – Washinton DC – I guess all the hot air in DC is blowing that market up
7 – Huntsville, AL
6 – Denver, CO
5 – Charleston, NC
4 – San Antonio, TX
3 – Charlotte, SC
2 – Raleigh, NC
#1 – AUSTIN, TEXAS!
Boyce reports that Austin managed to avoid the brunt of the national recession. It has one of the lowest unemployment rates in the country, 7.5%. Moreover, nearly all its major housing metrics will be positive in 2010. The region of 1.72 million is forecast to have rising employment, household formations, and incomes. Only two markets on our list, Huntsville and Raleigh, will have higher rates of household formation this year. Austin was the second fastest growing metro area in the nation in 2008, according to Census projections, and business relocations continued rising through the recession, according to the Austin Chamber of Commerce.
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