Housing remains in high demand in most of the nation, but the housing recovery looks increasingly uneven, depending on location.
Whether buyers are shopping for their own homes or for investment properties that will throw off some cash, certain markets are becoming far more lucrative than anyone might have expected just a few years ago. Still, some of the hottest markets are falling from grace.
A few of the recession’s hardest-hit housing markets have suddenly some of the healthiest. Tampa, Florida, which lost thousands of homes to foreclosure in the past decade, now takes the title of the nation’s healthiest housing market, at least according to TenX, a real-estate auction and analytics company. It rated locations based on a number of key factors, including population and job growth, unemployment rate and wage growth, as well as industry-specific indicators like inventory and construction.
On the other end of the spectrum, Northern and central New Jersey hit rock bottom of the list. Home prices there are high, while job and population growth are lackluster. Los Angelesand San Francisco are suffering from other ills, namely affordability. Prices are so high and inventory so weak that the potential for both sales and price growth are very low.
Healthiest housing markets
Unhealthiest housing markets
Northern New Jersey
Central New Jersey
Long Island, New York