BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
While the nation struggles through a housing crunch, there are many markets that continue to do well, despite the rest of the country. I thought it would be interesting to see how some local markets are performing.
Please share with everyone your local housing market is performing.
Tell us your: Local Market (city, county):
State:
Status of current housing market:
Lets get a better feel for how real estate is really doing!
In my short experience, the inventory in Central CA seems to be up but prices are still high. I'm on a tight budget and its not quite affordable for me yet. I'll be ready to jump though.
Houston seems to be doing well after all the dust settles with this huge FBI thing that just happend...They arrested some 38 people that were all working a real estate scam operation down here..its a huge mess right now as far as forclosures go...
Houston's market is still Healthy compare to National averages. It's projected to show a small appreciation over the next 5 years. Luxury Home Sales doing well. In the area of Conroe, my city, which is slightly north of Houston, things are booming. New construction everywhere, several large apartment complexes, a new fire station, a new mall, new highways and bridges.
Sales of vacation homes and condos on Lake Conroe are still strong as residents migrate out of the city of Houston to various suburbs.
the Florida market is terrible right now. Forclosures are at an all time high and the market is expected to continue to drop until the end of 2008 where it will slowly rise in 2009 (source: Orlando Sentinal, Daytona Beach News Journal). I like to think that would make it a great time to buy here but unfortunately getting financing these days is harder than ever because of the record high forclosures. Apparently Miami right now is the worst in the state with its already 20,000 empty condos and 20,000 more yet to be built. The reason those condos are not being filled is because traffic in the downtown area where the condos are located is herrendous and the crime in the area is just as bad. On the bright side, "what goes down must go up" ... those condos are expected to be sold at 30% under value, and the city of Miami will eventually do something about the traffic and crime there... the question is when? in a nutshell, The Florida market is slow, but is expected to rise soon.. but Miami (Dade County really) is in a totally different category.
In the Bay Area, it seems to be fine in areas where there is no more land to develope, good school system, and jobs. Places thats struggling are areas where not so good school system and plenty of land to develope seem to be hurting the most.