Although the U.S. housing market continues to struggle, many local markets are doing significantly better with some areas sidestepping the bust altogether. According to national real estate figures, since 2006 when pre-recession home prices were at a peak, several large metro areas have seen home prices either go up or remain flat – compared to an average drop of 29.5 percent nation wide over the same period. In several of these areas foreclosure sales are between 80 and 90 percent lower than the national average of 22.9 percent. There are many regional nuances that factor into a healthy real estate market and some cities have managed to keep their heads above water when it comes to maintaining a strong housing market and providing opportunities when selling a home.
So which markets were left virtually untouched by the housing bust? The top five are:
Foreclosure re-sales are 50.9 percent below the national average.
Little Rock, Arkansas
This deep-south city has a foreclosure rate that is 65% below the average.
Located in the south central region of the nation, Tulsa’s foreclosure rate drops to 87 percent below the average.
This state capitol has been all but untouched by the housing bust.
Fayetteville, North Carolina
This picturesque Southern city hasn’t felt the housing crunch that has rippled across the rest of the country and statistically is the number one place on the list to sell a home.
Although foreclosure rates indicate how the real estate market is being affected by the current economic situation, it is also a good indicator of employment rates and business opportunities in the region.
Selling your home in a market that is rife with unemployment and vanishing opportunities will be tough on a good day. A strong local economy will provide the best opportunity with more potential homebuyers when you decide to place your home on the open market.