The November issue of SmartMoney magazine profiles 25 metropolitan areas that are most likely expected to have a healthy rebound as the housing crisis bottoms out. So who are some of the lucky cities with the good karma coming their way?
This 3-bed, 3-bath Mid-Century Modern home in Seattle, WA, is listed for $524,950.
1. Seattle, WA:
· Prices here peaked 65 percent above January 2003 levels, compared with more than 95 percent in Los Angeles, CA.
· Only 11.5 percent of local homeowners who bought in the last five years have negative equity. The national average is 29 percent.
This 4-bed, 2-bath, Des Moines, IA, home lists for $485,000.
2. Des Moines, IA:
· The city's median home price is $156,600.
· The suburb of West Des Moines is a particularly strong market, with only six to seven months of inventory, compared to 10 or 11 months in other parts of the metro area.
View Moines Des Moines homes for sale
This 4-bed, 3-bath Raleigh, NC, home boasts a gourmet kitchen with granite countertops, a large island and all new appliances. The home also features a bonus room that can be converted into an office or exercise space. The home lists for $417,900.
3. Raleigh, NC:
· Prices here have been buoyed by job growth in the Research Triangle, home to dozens of tech firms. Total sales in the first quarter of this year were the fifth highest on record.
· The real growth has come in suburbs like Cary, Morrisville and Apex, all on the western side of Raleigh, where home prices have risen steadily. In the subdivision of Preston, prices are up 3.5 percent over last year.
This 4-bed, 4-bath Salt Lake City, UT, home lists for $549,000.
4. Salt Lake City, UT:
· A diverse economy with steady gains in health care, education and natural resources has offset a slumping market for home builders and kept job growth in the positive and kept home prices steady.
· The city's downtown continues to grow with more commercial and residential developments, making the area one of the hottest residential neighborhoods in Salt Lake City.
View Lake City Salt Lake City homes for sale
This 4-bed, 4-bath Birmingham, AL, home lists for $349,000.
5. Birmingham, AL:
· Median home prices in the area that encompasses Birmingham's Jefferson and three other counties have held up well. The suburb of Mountain Brook has fared particularly well, with median home prices at $535,000 for the first half of 2008. The region's median home price is $163,500.
· The city's low labor and land costs have attracted many businesses to the area.
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Got hot local housing tips or a story you want to share? Contact Amy Le at openingdoorsblog@homescape.com.
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