To everyone who bought a house in Carson City, Nevada- congratulations, you picked a winner. Your housing market is expected to appreciate at a rate of 11.9% annually between 2011 and 2016.
To everyone else, don't hide your money under a mattress for the next five years. Here are 15 cities, identified by Fiserv Case Shiller Indexes, where the housing market is growing, and could provide you with some nice returns. Nationally, houses are appreciating on an average of 3.7%, all of these cities have markets appreciating at over 8%.
Note that these are mostly small cities. Regionally growth is concentrated heavily in the Pacific northwest and Central Florida.
#14 (tie) Santa Fe, New Mexico
Projected annual growth 2011 to 2016: 8.6%
Santa Fe saw a mild housing crash, with a 14.2% decline from peak to the end of 2010. The market will trough in Q1 2011 and bounce back strongly.
Data provided by Fiserv Case Shiller Indexes.
#14 (tie) Eugene, Oregon
Projected annual growth 2011 to 2016: 8.6%
After a relatively mild drop -- 15.7% -- from peak to the end of 2010, Eugene's housing market troughed in Q2 2011. It will grow 6.5% next year, before appreciating even faster
Data provided by Fiserv Case Shiller Indexes.
#13 Melbourne, Florida
Projected annual growth 2011 to 2016: 8.7%
Melbourne took a massive 51.3% hit from peak to the end of 2010. Unlike Miami's housing market, which will stagnate under a weight of unsold inventory, Melbourne is projected to bounce back right away. The area reached a trough in Q1 2011.
Data provided by Fiserv Case Shiller Indexes.
See the rest of the story at Business Insider
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