Real Estate Investing

As if there wasn’t already enough temptation to move to Hawaii with all the sand and surf and pineapple, there is now yet another reason. This state is the strongest in America in terms of the real estate sales forecast for 2008, according to HousingPredictor.com. Honolulu, Maui and Kauai are expected to appreciate at 6.8, 5.6 and 4.9 percent, respectively. The cities are currently ranked second, fourth and ninth, respectively, among the top 25 appreciating U.S. markets.

Housing Predictor takes its data from independent research and analysis of individual communities across America. The site says its forecast estimates in 2007 proved to be about 86% correct — no easy feat in the tumultuous real estate year that was. Interestingly, the site’s list of the top 25 appreciating markets for this year are scattered evenly across the United States. Other than Hawaii, five other states had three cities make the list: Texas; Mississippi; Idaho; Washington and North Dakota. The even scattering from the west coast to the east coast and all points in between shows that the real estate market is indeed not as hopeless as national media would have us believe.

Of course, it was little surprise to see Austin, Texas at number 10 on the list, because this city, with its large white collar high-tech demographic, has consistently defied the trend of low Texas prices. The other Texas cities on the list, McAllen and San Antonio, probably made it on because their real estate prices have little place else to go but up. Plus, Texas is the new Florida in terms of retirees and vacationers. Hawaii has notoriously higher cost of living, so little surprise there. And Manhattan, NY, at number six on the list, may appreciate the projected 5.2%, but it will probably be primarily due to the unbelievable demand for housing there.

With towns big and small across America making the list, Housing Predictor offers hope that the housing market may just pick up sooner than we thought.