10 Fastest Growing Real Estate Markets

May 11, 2008 – 6:55 pm

CNNMoney just released their report of the 10 fastest growing real estate markets.

And here they are:

McAllen, Texas

12-month forecast: 4%

Median home price: $109,000

One year price change: 2.1%

Five year price change: 23.3%

Change in foreclosure rate: 23%

 

Rochester, N.Y.

 

12-month forecast: 2.7%

Median home price: $121,000

One year price change: 3.4%

Five year price change: 20.1%

Change in foreclosure rate: 5%

 

Birmingham, Alabama

 

12-month forecast: 2.7%

Median home price: $156,000

One year price change: 2.9%

Five year price change: 29.4%

Change in foreclosure rate: 20%

 

Syracuse, N.Y.

 

12-month forecast: 2.6%

Median home price: $126,000

One year price change: 0.8%

Five year price change: 29.5%

Change in foreclosure rate: 27%

 

Buffalo/Niagara Falls, N.Y.

 

12-month forecast: 2.4%

Median home price: $105,000

One year price change: 1.6%

Five year price change: 24.5%

Change in foreclosure rate: 14%

 

New Orleans, La.

 

12-month forecast: 2.2%

Median home price: $158,000

One year price change: 1%

Five year price change: 43.7%

Change in foreclosure rate: 49%

Scranton, P.A.

 

12-month forecast: 2.2%

Median home price: $128,000

One year price change: 7.2%

Five year price change: 41.1%

Change in foreclosure rate: 8%

 

Grand Rapids, Mich.

 

12-month forecast: 1.9%

Median home price: $124,000

One year price change: -3%

Five year price change: 8.3%

Change in foreclosure rate: 37%

 

Baton Rouge, La.

 

12-month forecast: 1.9%

Median home price: $170,000

One year price change: 5.7%

Five year price change: 38.3%

Change in foreclosure rate: 14%

 

El Paso, Texas

 

12-month forecast: 1.8%

Median home price: $134,000

One year price change: 6.9%

Five year price change: 51.9%

Change in foreclosure rate: 32%