Forbes: Austin Home Prices Likely to Rise
Austin and San Antonio are the only two cities expected to see prices rise this year.
Many renters and future homebuyers have been watching the housing market with interest, waiting for that deal of a lifetime. (As we’ve written, with rising interest rates, those deals are passing by.) Homeowners looking to sell have seen a two-year slide in home values “at a stomach-turning pace.” The economists and researchers at Forbes have determined where home prices are likely to rise.
Where are home prices likely to rise, and fast? Austin and San Antonio.
“Although prices in Austin and San Antonio are also expected to have dropped mildly five years out (by 0.57% [Austin] and 1.01% [San Antonio]) the reasons for, and implications of, this drop are quite different [than other national metro areas with slow growth and weak local economies]. These are the only two cities expected to see prices rise this year; their home correction will be late, and gentle. Texas metros Houston and Dallas will only see modest drops by the end of the year and a small lift five years out.”
Tags: 2009, Austin, economists, Forbes, home prices rising, San Antonio
This entry was posted on Thursday, September 17th, 2009 at 8:33 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
September 18th, 2009 at 7:36 am
Austin and San Antonio to be First to Recover from Recession | SellAustinTexas says:[...] This matches reports that Austin and San Antonio will be the two US cities to see home prices rise this year. [...]