Dennis Norman
By: Dennis Norman
Veros Real Estate Solutions released their quarterly report projecting how the housing market is going to perform in the next 12 months in major metropolitan areas of the U.S. The bad news for St. Louis is, we didn’t make the list of top 5 metros in terms of expected housing price performance. The good news is we didn’t make the list of the 5 worst markets either.
The top-performing metros are projected to have housing prices appreciate 5 percent over the next 12 months and the worst peforming metro are expected to see housing prices decline 12 percent during the same period. The projection for St. Louis is for prices to decline 1 percent.
The housing market projections by Veros are based upon “more than 50 critical decisioning factors” (I can now add “decisioning” to my vocabulary..) including interest rates, unemployment, inflation and housing inventory as well as “an array of economic and geographic trends.”
So what are projected to be the top performing metros in the next 12 months? Heres the list:
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Beaumont/Port Arthur, TX +5%
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Boulder, CO +5%
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Amarillo, TX +5%
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San Diego, CA +4%
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Charleston, WV +4%
The 5 metros that are expected to have the worst-performing housing markets are:
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Reno, NV -12%
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Las Vegas, NV -11%
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Palm Bay/Melbourne/Titusville, FL -10%
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Port St. Lucie/Fort Pierce, FL -9%
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Miami/Ft Lauderdale/Miami Beach, FL -9%
* It is important to note that this report and data was based on residential real estate in major metro areas amount single-family homes in the median price tier. Veros publishes forecasts and data for various segments by property type (single-family vs. townhouse/condo), by three distinct pricing tiers (upper, middle and entry-level) and by metro area, county and zip code. (hey, they can’t give us all the data for free, they need to have something left to sell)
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