In the December 2007 issue of Money magazine there was an article entitled "Last of the Red-Hot Markets" by Joe Light. According to the article the following areas in the country had median home prices that increased by more than 10%  in the last year:

                                                          Wenatchee, WA         +23.5%

                                                          Salt Lake City            +16.0%

                                                          Ogden, UT                +15.2% 

                                                          Grand Junction, CO    +14.3%

                                                          Asheville, NC             +10.9%

                                                          Austin, TX                 +10.8% 

                                                          Beaumont, TX           +10.6%

The reasons given for the various areas increase varies, but they all depend on supply and demand.  For example, the top area, Wenatchee, WA has an influx of retirees buying houses.  Salt Lake City has a newly booming tech industry that attracts workers.

I thought I would put this out there to see what people living in these areas thought about these statistics.  We all know that you can prove anything by using statistics.

 

                                                      GO SEE MY WEB SITE - www.georgekoppel.com
 

                                                        
 

                                                         

                                                         
 

 

2 Comments on Red-Hot Markets?

NOV
23
2007
 In any market up or down, there is always an exception to the rule. Beaumont and Austin should see an increase as they are still feeling the effects of Katrina relos. Great job George.
8:30am • #1
185,956 Points 7 Featured Posts Outside Blog
Real estate is a local business, yes it is effected by global events (Sept 11) and national issues (credit crunch), but at the core the laws of supply and demand vary from area to area.
8:44am • #2


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