HOUSING :: TOP CITIES FOR A SAFE HAVEN
POST by NVus
With foreclosures skyrocketing and home prices plummeting, real estate has had a tough year. But in certain pockets across the country the damage has been minimal — if nonexistent.
We found six cities with slow, steady growth, using data from Fiserv Lending Solutions, a home-price research company. These cities’ local economies have kept unemployment and foreclosure rates below average. Plus, their affordability index — a measure of home prices versus family income — is low.
For comparison, we also pinpoint an average market and the worst market in the country.
CHECK OUT WHAT CITIES MADE THE LIST…
Pittsburgh, Penn.
Population: 2,355,712
Median home price: $137,000
12-month change in home value: +.1%
Affordability index: 2/10
Homes sold this year: 7,634
Home value vs. national average: -33%
Top employer: University of Pittsburgh Medical Center
Although Pittsburgh home sales have dipped 16% this year, the properties have retained their value. This “Pittsburgh paradox,” as it’s called by locals, is attributed to the city’s steady population growth and the construction of new, high-value homes.
Despite its reputation as a gritty city of industry and steel, Pittsburgh is now driven by the health care and technology sectors.
SEE THE WHOLE LIST [CLICK HERE]
VIA REALESTATEYAHOO
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