ENVOY MORTGAGE Blog

Daily Real Estate News | September 25, 2007

Comeback Cities: Top Places Ready for a Rebound

The oldest rule of investing: Buy low, sell high. With some housing markets bottoming out, now could be a good time to get ready to make money on the slowdown, says Business 2.0 magazine, which has worked with Moody’s Economy.com to identify 10 major metropolitan areas that are coming back to life after a slowdown.

The following is a list of the 10 metro areas identified by the magazine, including their projected median sales prices for single-family homes and the percentage of growth expected in the next two years. While the numbers are moderate, they are a huge improvement over what’s been happening in these cities and others, the magazine notes.

1. Dallas–Fort Worth
Q1 2008: $151,930
Q4 2009: $161,690
Growth rate: 6.4 percent

2. Indianapolis
Q1 2008: $122,940
Q4 2009: $130,630
Growth rate: 6.3 percent

3. New Orleans
Q1 2008: $153,850
Q4 2009: $162,600
Growth rate: 5.7 percent

4. Atlanta
Q1 2008: $177,750
Q4 2009: $187,640
Growth rate: 5.6 percent

5. Montgomery , Ala.
Q1 2008: $140,020
Q4 2009: $147,690
Growth rate: 5.5 percent

6. Memphis
Q1 2008: $143,550
Q4 2009: $150,730
Growth rate: 5 percent

7. Mobile , Ala.
Q1 2008: $134,580
Q4 2009: $140,920
Growth rate: 4.7 percent

8. Austin , Texas
Q1 2008: $186,350
Q4 2009: $195,060
Growth rate: 4.7 percent

9. Houston
Q1 2008: $154,850
Q4 2009: $161,910
Growth rate: 4.6 percent

10. St. Louis
Q1 2008: $143,920
Q4 2009: $149,710
Growth rate: 4 percent

Source: Business 2.0, Paul Kaihla (10/01/07)