The recent (and still somewhat current) economic recession and the mortgage crisis took a heavy toll on housing markets across the United States. It seems that every region has been suffering from rising unemployment, loan defaults and home foreclosures. As the country begins to recover, many people are trying to determine the best places to buy a house.
This article provides numerous “Top 10” lists of the best places to buy a house. As you go through these lists, you will see which real estate markets are priced affordably and which markets are improving. Whether you’re looking to buy a house or you’re simply curious about the nation’s housing market, these lists will help you understand America’s current real estate situation.
The best places to buy a house
Below are several lists of the best places to buy a house, with data provided by various financial sources (including Forbes, CNN Money, and BusinessWeek). According to the research, most of the promising housing markets are located in the Southern and Midwestern regions of the country.
Top 10 U.S. housing markets (February 22, 2010)
According to Forbes.com, these major metropolitan areas are affordable and have low foreclosure rates. The S&P/Case-Shiller Home Price Index was used to determine where home prices are expected to rise, making these metro areas some of the best places to buy a house.
1. Pittsburgh, Pennsylvania
2. Louisville-Jefferson County, Kentucky-Indiana
3. Houston-Sugarland-Baytown, Texas
4. Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin
5. Indianapolis-Carmel, Indiana
6. Columbus, Ohio
7. Memphis, Tennessee-Mississippi-Arkansas
8. St. Louis, Missouri-Illinois
9. Dallas-Fort Worth-Arlington, Texas
10. Austin-Round Rock, Texas
10 best places to buy a house now (March 2010)
According to CNNMoney.com and Money Magazine, these are the best places to buy a house because these markets are projected to rise in the next year. Keep in mind that some housing markets have yet to hit bottom and may still be declining.
1. Santa Rosa, California (home price forecast for 1 year: 6.0%)
2. Cheyenne, Wyoming (home price forecast for 1 year: 4.7%)
3. Kennewick, Washington (home price forecast for 1 year: 4.6%)
4. Merced, California (home price forecast for 1 year: 4.4%)
5. Fairbanks, Arkansas (home price forecast for 1 year: 4.2%)
6. Bremerton, Washington (home price forecast for 1 year: 4.2%)
7. Corvallis, Oregon (home price forecast for 1 year: 4.1%)
8. Tacoma, Washington (home price forecast for 1 year: 3.9%)
9. Anchorage, Arkansas (home price forecast for 1 year: 3.8%)
10. Bend, Oregon (home price forecast for 1 year: 3.3%)
10 best cities for real estate steals (February 18, 2010)
According to U.S. News and World Report, these are the best metropolitan statistical areas to buy a house. These results reflect the cities where homebuyers are most likely to find undervalued houses with lower asking prices. Keep in mind that some housing markets have yet to hit bottom and may still be declining.
1. Memphis, Tennessee
2. Salinas, California
3. Medford, Oregon
4. Washington D.C.
5. Mobile, Alabama
6. Las Cruces, New Mexico
7. Fayetteville, North Carolina
8. Phoenix, Arizona
9. Forth Worth/Arlington, Texas
10. Cincinnati, Ohio
Top 10 most affordable suburbs (March 3, 2010)
According to BusinessWeek, these are the best suburbs to buy a house, where there are good schools and your dollar will go further. The results below range from “established high-income neighborhoods to growing middle-income communities.”
1. Fishers, Indiana
2. Papillion, Nebraska
3. Mililani Town, Hawaii
4. Huntersville, North Carolina
5. Montgomeryville, Pennsylvania
6. Hales Corners, Wisconsin
7. Roxborough Park, Colorado
8. Brandon, South Dakota
9. Savage, Minnesota
10. Clark, New Jersey
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