Fastest Appreciating Real Estate Markets in the South

As a region, the Southern states remain a popular destination for young professionals, families, and retirees. Its famous hospitality, more affordable real estate, milder weather, and continued positive growth in both the manufacturing and medical sectors, make much of the South a safe bet when it comes to buying real estate. Of course, real estate appreciation is not a statewide phenomenon anywhere south of the Mason Dixon line; however, there are numerous hot spots where home prices are steadily on the rise. A look at the website, www.housingpredictor.com, shows where property values are on the rise.
 
Florida - The Sunshine State has certainly seen its share of ups and downs in the last few years. Although the entire state has not exactly recovered, many areas are well on their way to seeing the light at the end of the tunnel.
 
For 2012’s second quarter, CoreLogic ranked FL #5 on its home price index, which shows appreciation rates across the country. Six FL cities were also included on the Business Insider’s list, which was published in May, 2012. On that list, “The 15 Best Housing Markets for the Next 5 Years”, Miami’s appreciation rates were up by 8.4%, Ft. Lauderdale-5.2%, Tampa-4.6%, and Orlando-2.4%. One boost to sales is that a significant number of homes in Dade County are attracting international buyers from Europe, South America, and even the Middle-East.
 
Louisiana - After two major disasters in less than ten years, it may come as a surprise that The Bayou State’s housing market is on the upswing. In the Big Easy, 2011 was positive, with sales up by 20% and property appreciating by 1.6%. Increased employment opportunities in the areas of education, healthcare, and manufacturing, plus billions in new construction projects across the state, are driving up home values. For 2012, Houma, Monroe, and Lake Charles have already seen real estate values go up over 3.0%.
 
Mississippi - Just like its neighbor, LA, Mississippi has had its share of turmoil in recent years. In spite of hurricanes, oil spills, and a struggling economy, the state is seeing an increase in home values in most of its larger markets.
 
An August 2010 Nielson company report explained a similar positive growth situation in LA, after Hurricane Katrina. Along with investors, wealthier, older homebuyers, and young renters came in and helped stabilize the market. MS seems to be following suit. The state’s rich history, unique culture, natural beauty, and affordable property, make it an exciting prospect. South MS homes along the Gulf Coast are selling, along with Gulfport, where home values were up by 2.1% and Biloxi, which was up by 3.0%. Low mortgage rates are also continuing to boost sales.

If you are interested in purchasing or refinancing a residential property in Florida, Louisiana, Mississippi, or anywhere else down South, give American Financial Resources a call at 800-634-8616 or visit us online at www.AFRMortgage.com. We're a national mortgage lender offering a wide variety of home loan programs including FHA loans, non-conforming jumbo mortgages, USDA rural housing loans, mobile home loans, and more.