Veros Real Estate Solutions has predicted that prices of homes in some Texas cities will lead the country in terms of appreciation in the coming 12-month period despite housing market problems associated with listings of government foreclosures and bank foreclosures.
Although Houston foreclosure listings have some of the highest numbers of properties, the city, along with Dallas, is projected to post the strongest housing price revival in the U.S. According to Veros, a risk management services firm, the two metro areas exhibited the greatest potential for a housing price appreciation.
Regardless of foreclosure listings in Texas, VeroFORECAST predicted that Dallas and Houston will be the most promising housing markets in the U.S. Meanwhile, several metros in Florida are expected to lag behind in terms of price appreciation, with Port St. Lucie leading the top five rankings of major cities that will have the weakest housing markets in the coming year.
The forecast has stated that foreclosed listings notwithstanding, Texas has a strong housing market, with four of its metro areas making the top five rankings of locations with the strongest appreciation forecast. The VeroFORECAST system of the company has been deemed reliable by majority of economists and business leaders and has been used to project the future status of the real estate industry.
Another area that has huge problems in terms of listings of government foreclosures and bank foreclosures that is expected to do relatively well in the coming 12 months is California. According to officials from Veros, major cities of California are mostly steady. The Riverside-San Bernardino region made the top ten list of metros with the highest possibility of price appreciation.
Executives from the firm have stated that seasonal trends and affordability are two factors that will help California home prices to rebound faster than other areas. Other cities cited for their modest price gains are Anchorage and several local housing markets of Iowa and Illinois, including Rock Island, Moline and Davenport.
In terms of Houston and Dallas, analysts from Veros have cited the low unemployment rate as one of the factors that helped offset the listings of government foreclosures and bank foreclosures in the region. Affordability in Amarillo and Dallas also contributed to the two metros moving up the rankings compared with previous year's results.
Search foreclosure listings in Texas cities:
- Austin Foreclosure Listings
- Katy Foreclosure Listings
- Spring Foreclosure Listings
- Garland Foreclosure Listings
- Humble Foreclosure Listings
Related Posts:
- Lists of Homes for Single Families Are Closer to Actual Number in Dallas
- Texas Is Still One of the Best Places for Household Relocation
- Bank Foreclosures and List of Fannie Mae Homes to Set a Record for 2010
- Central Texas Foreclosures Picking Up
- Sales of Statewide and Houston Bank Owned Homes on the Rise
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