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5 Markets Expected to Fare Best in 2010

SmartMoney.com released this article on Yahoo this week. The article didn't have sunny news for the majority of the nation, but it did tout 5 markets that are expected to fair well in 2010.  The predictions are based on data provided by Moody's economy and list the following cities: Tacoma, Washington, Memphis, Tennessee, Pittsburgh, Charleston, SC and Seattle.

Charleston, SC was chosen as one of the 5 real estate markets to fair best in 2010!

The author did state several factors that would play into the nation's real estate recovery, primarily, the labor market, a backlog of foreclosures, and a 2nd wave of adjustable rate mortgages (ARMs) which will reset this year. The author pointed out that the one thing in common that the 5 markets expected to fare best in 2010 had in common was that each started with a limited supply of housing inventory and prices stayed in sync with family incomes.

Each market is local and for the Charleston, SC market, other local factors cited were our diverse economic base that allowed the local economy to be more stable and Boeing's local impact of investing in a 2nd plant in Charleston which will create job growth. While Moody's only predicts a 0.18% increase in home prices which doesn't seem like a lot, it's better than double digit numbers in the red.

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Michele Reneau, ABR, GRI, CRS

www.CharlestonRelocationExperts.com

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Comment balloon 11 commentsMichele Reneau • January 14 2010 08:36AM

Comments

Thanks for the article. We learn a lot of new information from Active Rain Blogs. Best Regards,

Posted by Edward & Celia Maddox, EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD (The Celtic Connection Realty) almost 9 years ago

Michele, good news for you!  I think the Metropolitan D.C. area will also do well in 2010 as well.

Posted by Craig Richardson (National Realty) almost 9 years ago

Michele that is great news for your market. I hope it will pay off big for your business in 2010.

Posted by Darrell Walters (W. Darrell Walters) almost 9 years ago

Edward & Cecilia-Thanks for stopping by.

Craig-I think there are probably a lot more areas that will fare well.  DC is probably due for it.

Darrell-We had a great 2009 and we hope it continues through 2010 as well.

Posted by Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) almost 9 years ago

Michele, that's great news! I'm surprise that my good ole' city of Austin did not make that list. :(

Posted by Taylor Shults Philley, Broker, Realtor , GRI (Austin Realty Firm) almost 9 years ago

Hi Michele, I hope it's true! .18 is not exactly earth shattering, but like you said it's better than being double digits in the red.

Posted by Rich Cederberg, eXp Realty Agent Albuquerque (eXp Realty) almost 9 years ago

That sounds like good news, indeed, Michele.

Posted by William James Walton Sr., Greater Waterbury Real Estate (WEICHERT, REALTORSĀ® - Briotti Group) almost 9 years ago

Michele,

I have no doubt that you will be successful no matter what the market is like in Charleston! Another record breaking year in 2010?

Posted by Anthea Click, Nashville Home Stager - Selling Nashville, TN homes quickly! (Fresh Perspectives - www.InsideNashvilleHomes.com) almost 9 years ago

Taylor-Maybe Austin would have been in the Top 10. :)

Rich-Anything not in the RED is good news to me.

William-Good news that I hope proves true.

Anthea-No record breaking by me, although I'll be working on some stiff goals for the team to keep it up. I plan to put the priority on the new baby due in April.

Posted by Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) almost 9 years ago

I would love to see 0.18% in the Las Vegas market. In most areas of the valley the median price declined about 15-20% in 2009. And now that prices have come down, we're also dealing with double-digit unemployment. We could really benefit from diversifying our economy.

Posted by John Novak, Henderson, Las Vegas and Summerlin Real Estate (Keller Williams Realty The Marketplace) almost 9 years ago

John-I think a lot of areas can benefit from diversifying the local economies. I imagine this would be one of the biggest lessons we can learn from this. 

Posted by Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) almost 9 years ago

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