Housing markets in the Great Plains, including those in North and South Dakota, Texas, Wyoming, Nebraska, Louisiana and Iowa, are showing the most signs of strength these days, according to a recent report from Veros, a risk management and valuation services firm.
Bismarck, N.D., is expected to be the strongest market in the country in the year ahead, with housing values appreciating at a 5.6% clip, according to the company. Other markets projected to be among the strongest in the year ahead include Honolulu; Fargo, N.D.; Harrisburg/Carlisle, Penn.; and Pittsburgh. Washington, D.C., and Boston remain strong city markets.
But while not many markets are fully rebounding, at least a good number of them likely won’t see values fall at quite as rapid a pace as in recent years, according to the report. “Overall, the recovery in the housing market is limited to just a few markets and is taking a long time to occur. The encouraging news is that many markets are no longer expected to be rapidly declining,” said Eric Fox, vice president of statistical and economic modeling for Veros.
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