The Top 10 Real Estate Markets in 2012

Hey, one of our Private Money Blueprint members, Tim Ryan, sent me a link to a report from Inman News on the top 10 real estate markets to watch in 2012… and I wanted to share it with ya.

Here are some of the findings from the report (quoted from the article):

• “Three of the 10 markets on this list are state capitals, and both Illinois markets benefit from proximity to that state’s capital, Springfield.
• Four of the markets: Bloomington-Normal and Peoria in Illinois as well as Des Moines-West Des Moines and Waterloo-Cedar Falls in Iowa, are no more than 300 or so miles from each other.
• Nine of 10 markets had median sales prices below the national median in the third quarter of 2011.
• Where affordability rankings were available, the markets on the list had no less than 73.6 percent of homes affordable to those households earning the area’s median income in the third quarter.
• All had unemployment, foreclosure, and vacancy rates lower than the national average. None of the markets had unemployment rates higher than 7.9 percent. All had lower shares of distressed sales than the national average.
• Only two of the markets had populations above 1 million, and three had populations above 500,000. The remainder had populations below that figure, but above a minimum 150,000.
• As in last year’s report, jobs in the public sector as well as the health care industry were major employers in most markets. This year, however, nine out of 10 markets also counted manufacturing companies among primary employers. Technology companies, energy providers, and universities also boosted many markets.”

Check out the full report on the top 10 real estate markets to watch in 2012.

Leave your thoughts and questions in the comment area below.

–          Patrick

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