Housing Analysis Says Many Markets Bottomed In 2009

According to data released by Pro Teck Valuation Services, many housing markets across the country bottomed in 2009, despite industry analysts saying prices had further to fall. The data shows that many markets are already stabilizing or rebounding. Tom O’Grady, Pro Teck’s chief executive, said their data indicates that prices should be gradually increasing over the next few years, though the rate at which they increase will depend on the specifics of each individual market. The evaluation divided the number of non-distressed property sales by the total housing stock in each region as an indicator of future price performance. In addition, Pro Teck listed the top 200 markets and found that states, such as Texas and Oklahoma, that experienced a boom from the oil industry are among the best performing markets for single-family homes. More here.