Ten Cities Ready to Bounce Back -By Paul Kaihla, CNNMoney.com Business 2.0, working with Moody's Economy.com, has unearthed 10 major metropolitan areas that are bucking the national housing trend. By the beginning of next year, these markets should be coming back to life -- and in our exclusive rankings, we've projected the house-price appreciation these cities will enjoy during 2008 and 2009. The gains may seem modest -- they range from about 4 to 7 percent -- but remember, in the midst of the current housing meltdown, any gain at all constitutes a minor miracle.
"These cities didn't draw in speculators or investment the way the coastal markets did,. says Celia Chen, the Economy.com economist who crunched our numbers." "House prices in these places weren't untethered from the underlying fundamentals." These under-appreciated -- but soon-to appreciate -- housing markets offer real opportunities to the savvy investor.
The Metroplex, as locals call the Dallas - Fort Worth region, is smoking, adding jobs at twice the national rate. Better yet, those new jobs are concentrated in well-paying fields like banking, advertising, and health care. Dallas- Fort Worth sits at the center of the Interstate 35 corridor, a "megapolitan" galaxy of urban development that Virginia Tech researchers estimate will add 6.4 million new people and 2.8 million units of housing over the next two decades. Dallas also serves as the North American headquarters for international high-tech employers like Nokia and Ericsson. All of this makes Dallas one of the nation's nine most global metros -- cities that are hubs for international trade and foreign investment -- according to an analysis by Moody's Economy.com.
Dallas has largely avoided the boom-and-bust cycle, which is one reason this market is on track to post the best returns on housing of any major U.S. city during the next two years. An added bonus: The region's service sector has escaped the collateral damage that comes when the bubble bursts and equity-driven spending dries up.
Wow, hard to believe when all we hear is the negative in the media. Below are just a few of the positive statistics from the last 12 month's sales numbers in the cities that make up the DFW Metroplex.
- Prosper TX - 38% Increase in Sales
- Irving TX - 5% Increase in Sales
- Dallas North East - 4% Increase in Sales
- Dallas North West - 3% Increase in Sales
- Fairview / Lucas - 1% Increase in Sales
- Dallas North - 23% Increase in Sales Price
- Celina TX - 11% Increase in Sales Price
- Coppell TX - 8% Increase in Sales Price
- Allen TX - 6% Increase in Sales Price
- Frisco TX - 4% Increase in Sales Price
I could go on but it would start to get boring. I love this area, I love the people and I love that despite all of the negative press in the media, Dallas Fort Worth continues to grow and prosper. You can read more on my blog at www.TexasHomeCentral.com/Blog