Worst 25 Real Estate Markets

The Worst 25 Housing Market Forecast in 2007 by Housing Predictor includes housing markets in just 13 states, which is the same number of states represented in the original forecast in January. California’s markets placed more on the list than any other state. This should be a major consideration for any mortgage company looking to purchase live mortgage leads or exclusive mortgage leads.

However, the Worst Housing Market in the nation selected is Miami, Florida, which is forecast to fall an average of 12.7% in 2007. More than 15,000 pre-construction condominium reservations have already been cancelled or withdrawn adding to the glut of inventory for sale. The Miami market is in the early phase of a full blown housing recession. As a mortgage company being aware of which markets are appreciating and which are depreciation should be a major consideration when buying exclusive mortgage leads obviously markets where values are rising are going to offer a high close ratio then in markets where values are dropping.

Florida is second to California placing four markets on the list. However, Florida, which slid into its slowdown earlier than many other states is beginning to pull out of its slump in some markets.

Los Angeles, California claims the second position on the Worst 25 list followed by San Diego and Las Vegas, Nevada.

The Worst 25 Markets are composed of mainly urban areas, including their outer lying communities, which are the most dense concentrations of the nation’s population with the highest number of homes.

Rank	Real Estate Market	Median Price	2007 Forecast
1.	Miami, FL	$348,000	− 12.7%
2.	Los Angeles, CA	$469,000	− 11.1%
3.	San Diego, CA	$569,000	− 10.9%
4.	Las Vegas, NV	$269,000	− 10.4%
5.	Detroit, MI	$131,000	− 9.7%
6.	Boston, MA	$424,000	− 9.5%
7.	Nassau, NY	$448,000	− 9.4%
8.	Denver, CO	$231,000	− 9.3%
9.	Sacramento, CA	$325,000	− 9.0%
10.	Oakland, CA	$681,000	− 8.9%
11.	San Francisco, CA	$694,000	− 8.9%
12.	Cambridge, MA	$407,000	− 8.8%
13.	Providence, RI	$269,000	− 8.7%
14.	San Jose, CA	$680,000	− 8.7%
15.	Phoenix, AZ	$285,000	− 8.6%
16.	Edison, NJ	$369,000	− 8.3%
17.	Alexandria, VA	$726,000	− 8.1%
18.	Reno, NV	$274,000	− 7.1%
19.	Fort Lauderdale, FL	$324,000	− 6.9%
20.	Indianapolis, IN	$119,000	− 6.9%
21.	Baltimore, MD	$249,000	− 6.8%
22.	Tampa, FL	$221,000	− 6.7%
23.	Fresno, CA	$237,000	− 6.3%
24.	Orlando, FL	$245,000	− 6.2%
25.	Grand Rapids, MI	$151,000	− 6.1%

Top 25 Real Estate Market Forecast

Driven by strong local economies the Top 25 housing markets with the highest forecast appreciation are further proof that all real estate is local in nature, and that despite news reports that the entire nation’s housing markets are depreciating, many states have housing markets that are appreciating strongly.

Fifteen states are now represented in the Top 25 markets, two more than at the start of 2007, including New Mexico. Albuquerque retains it’s #1 spot with a projected 9.1% in appreciation for the year. Growing McAllen, Texas is at second on the list with projected appreciation of 8.9% in 2007. This would mean these markets will offer great close ratios on those exclusive mortgage leads as well as live mortgage lead transfers.

Housing Predictor's 25 top markets have the highest probability of reaching their forecast appreciation out of more than 250 local markets forecast.

The great majority of the real estate markets on the Top 25 List are in the southern half of the nation. But bursting New York City and Spokane, Washington were added to the list at the mid-year update. Six Texas markets made the top 25.

Salt Lake City, Utah captured third due in part to Californians fleeing the Golden State. More Californians are actively looking to move out of the sunshine state than in the state’s history.

Rank	Real Estate Market	Median Price	2007 Forecast
1.	Albuquerque, NM	$194,000	9.1%
2.	McAllen, TX	$112,000	8.9%
3.	Salt Lake City, UT	$241,000	8.6%
4.	Austin, TX	$174,000	8.4%
5.	Seattle, WA	$380,000	8.2%
6.	Houston, TX	$148,000	7.8%
7.	Biloxi, MS	$204,000	7.5%
8.	El Paso, TX	$132,000	7.2%
9.	Nashville, TN	$155,000	6.9%
10.	Portland, OR	$241,000	6.7%
11.	San Antonio, TX	$154,000	6.5%
12.	Las Cruces, NM	$ 154,000	6.4%
13.	Little Rock, AR	$117,000	6.4%
14.	Dallas, TX	$161,000	6.4%
15.	Monroe, LA	$164,000	6.3%
16.	Boise, ID	$162,000	6.1%
17.	Jackson, MS	$137,000	6.1%
18.	New York, NY	$535,000	6.0%
19.	Raleigh, NC	$239,000	5.9%
20.	Newport, NC	$208,000	5.8%
21.	Fort Smith, AR	$112,000	5.8%
22.	Spokane, WA	$178,000	5.8%
23.	Charlotte, NC	$235,000	5.7%
24.	Bar Harbor, ME	$398,000	5.5%
25.	Hot Springs, AR	$159,000	5.4%