| With all the negative media attention real estate has | | | | - Spokane, WA -- 4.2% |
| been getting these days, one might assume there | | | | - Glen Falls, NY -- 4.0% |
| weren't any appreciating or growth markets left in | | | | - Salt Lake City, UT -- 3.9% |
| the country. Nothing could be farther from the truth. | | | | - Grand Forks, ND -- 3.9% |
| The problem with the news media is they tend to | | | | - San Antonio, TX -- 3.9% When local economic |
| lump the subject of real estate into one big bucket, | | | | factors are strong, such as job growth and positive |
| possibly because it makes things easier for them. | | | | net migration, real estate tends to be resilient to |
| This generalization glosses over one of the most | | | | broader economic factors, such as increasing interest |
| important concepts we teach other investors. That is | | | | rates and inflation. Consider these examples: |
| real estate is driven and affected by local market | | | | Salt Lake City, Utah experienced a median price |
| factors far more than it is by national or global | | | | increase of 10.5% by November 2007 over the |
| factors. | | | | previous 12 months. This was largely due to its |
| Having said that, here are the 20 top real estate | | | | population growth. |
| markets for 2008: | | | | Austin-Round Rock, Texas saw home appreciation of |
| Appreciation Forecast* | | | | 10% by the third quarter of 2007, and a 29% |
| - Yakima, WA -- 7.1% | | | | increase over 5 years. Their job market picked back |
| - Honolulu, HI -- 6.8% | | | | up over the previous three years. |
| - Salem, OR -- 6.5% | | | | Idaho Falls located in eastern Idaho, close to Jackson |
| - Maui, HI -- 5.6% | | | | (Jackson Hole), WY saw an increase of 12% by the |
| - Bismarck, ND -- 5.6% | | | | third quarter of 2007, and a 50% increase over 5 |
| - Manhattan, NY -- 5.2% | | | | years. |
| - Sun Valley, ID -- 5.1% | | | | Grand Junction, located in western Colorado near the |
| - Biloxi, MS -- 5.1% | | | | Utah border had an appreciation rate of 14% by the |
| - Kauai, HI -- 4.9% | | | | third quarter of 2007, and a 66% increase over 5 |
| - Austin, TX -- 4.8% | | | | years. |
| - Grand Junction, CO -- 4.5% | | | | The point to remember is that there are always |
| - Fargo, ND -- 4.5% | | | | good investment opportunities regardless of what |
| - Mobile, AL -- 4.4% | | | | you hear in the media or the state our nation's |
| - McAllen, TX -- 4.3% | | | | economy. |
| - Idaho Falls, ID -- 4.2% | | | | * housingpredictor. |