photo credit: Just a guy who likes to take pictures
The best and worst markets in the US over the next 12 months have been predicted by a leading real estate market commentator.
Forecast firm Housing Predictor has issued its annual run down of areas across the country with the best and worst levels of potential for 2009.
The best and worst markets have the highest probability of hitting their predicted appreciation and deflation from all the forecasts the firm issues.
Seventeen housing markets scattered across the country are forecast to appreciate during 2009, including regions in the likes of North Dakota, Montana and Colorado.
However, many are also expected to see big decreases in value as the foreclosed homes epidemic continues.
Housing Predictor said:
“A high number of housing markets will sustain double-digit housing deflation as Congress and the new White House administration of president-elect Barack Obama try to come up with solutions to aid the nation’s ailing economy.”
The company added markets in more than three dozen states are expected to see double-digit housing deflation, including California, Florida, Michigan, Hawaii, Massachusetts, Arizona, Nevada, New York, Connecticut, Delaware, South Carolina, New Mexico and Georgia.
The troubled automobile industry is also impacting markets in the mid-west, triggering more foreclosures in a number of areas including Indiana and Ohio.
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