Pearland Texas Real Estate

Houston Listed in Forbes' Top Five 'Best Buy Cities 2014'

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Need more proof that the Houston area housing market is HOT right now? Here you go: The Houston area has made Forbes top five list of the "Best Buy Cities 2014" in the nation!

Forbes bases this list on cities where prices are still low but offer the potential for large growth in 2014. Forbes states that they complied this list from information from Local Market Monitor and tracked local economic factors for over 300 cities such as population, home prices, local jobs and the economy.  The Houston area was predicted to have a 24% cumulative rise in home prices for the next three years! Of course, we can already see this growth in the Pearland area. Homes are staying on the market for shorter periods and the economy is growing at a strong pace. 

Take a look at the other cities that made the list:

  • Fort Worth-Arlington, Texas
    • Median home price: $168,383
    • 3-year growth forecast: 25% (3-year growth forecast is prediction for cumulative rise in home prices over the next three years)
    • Prices are considered 20 percent below their actual value
  • Dallas-Plano-Irving, Texas
    • Median home price: $180,645
    • 3-year growth forecast: 29%
    • Prices are considered 12 percent below their actual value
  • Charlotte-Gastonia-Concord, N.C.-S.C.
    • Median home price: $201,855
    • 3-year growth forecast: 24%
    • Prices are considered 15 percent undervalued
  • Nashville-Davidson-Murfreesboro-Franklin, Tenn.
    • Median home price: $199,506
    • 3-year growth forecast: 23%
    • Prices are considered 16 percent undervalued
  • Houston-Sugar Land-Baytown, Texas
    • Median home price: $191,279
    • 3-year growth forecast: 24%
    • Prices are considered 13 percent undervalued
  • Atlanta-Sandy Springs-Marietta, Ga.
    • Median home price: $170,701
    • 3-year growth forecast: 26%
    • Prices are considered 26 percent undervalued
  • Oklahoma City, Okla.
    • Median home price: $159,713
    • 3-year growth forecast: 16%
    • Prices are considered 17 percent undervalued
  • Orlando-Kissimmee, Fla.
    • Median home price: $172,609
    • 3-year growth forecast: 35%
    • Prices are considered 17 percent undervalued

 

Source: “Best Buy Cities: Where to Invest in Housing in 2014,” Forbes (Dec. 26, 2013)

 

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Comment balloon 1 commentMaggie McFarland • January 05 2014 12:07PM
Houston Listed in Forbes' Top Five 'Best Buy Cities 2014'
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