Special offer

Safe Haven

By
Real Estate Agent with Coldwell Banker Residential Brokerage

foreclosures skyrocketing and home prices plummeting, real estate has had a tough year. But in certain pockets across the country the damage has been minimal -- if nonexistent.We found six cities with slow, steady growth, using data from Fiserv Lending Solutions, a home-price research company. These cities' local economies have kept unemployment and foreclosure rates below average. Plus, their affordability index -- a measure of home prices versus family income -- is low.

More from Kiplinger.com

» Sell Your Home Fast

» How Smart a Home Buyer Are You?

» 2008's Best Cities to Live, Work and Play

For comparison, we also pinpoint an average market and the worst market in the country.

Safe Havens

Lancaster, Penn.

Population: 498,465
Median home price: $206,000
12-month change in home value: +1.6%
Affordability index: 3/10
Homes sold this year: 1,166
Home value vs. national average: Same
Top employer: R.R. Donnelly & Sons publishing company

Known as an Amish cultural hub, the city is also home to a diverse group of industries, including printing and food processing. This helps keep the local market stable and unemployment low, as losses in one sector aren't devastating to the overall economy.

Locals say Lancaster is a conservative lending market, which limits foreclosures.

John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana

Joshua it seems to me most of the pain is in what was what I call the boom areas.  Florida, California and Las Vegas and Phoenix.  I know there were more but the most pain seems to be concentrated in only a few areas.

Dec 01, 2008 12:15 AM
Joshua Shope
Coldwell Banker Residential Brokerage - Palmyra, PA
Building Relationships at Home

You are so right. Unfortantely it can taint things in people minds of how the real estate market maybe in there area of the country.

Dec 02, 2008 11:24 AM