Published in the Houston Business Journal:
Home prices in the Houston-Sugar Land-Baytown metropolitan area are expected to be strong over the next 12 months, according to the Third Quarter Home Price Forecast from real estate forecaster Local Market Monitor.
The survey looked at the largest U.S. markets, defined as those with a population greater than 600,000.
In addition to Houston-Sugar Land-Baytown, the Dallas-Plano-Irving, Fort Worth-Arlington, San Antonio and Wichita Falls areas in Texas all made the list of expected top-performing markets.
Also named were Baton Rouge, La.; Buffalo-Niagara Falls, N.Y.; Little Rock-North Little Rock-Conway, Ark.; Omaha-Council Bluffs, Neb.-Iowa; Pittsburgh; and Syracuse, N.Y.
The Cary, N.C.-based forecaster expects home values to continue at the same pace in the top markets, where home prices have generally been below the national average.
“While home building activity nationally is down 35 percent from last year, some of our top markets are doing relatively better,” Ingo Winzer, president of Local Market Monitor, said in a statement.
Of the markets expected to show the worst price performance, three are in California, three are in Florida, two in Arizona, two in Washington/Oregon and one in Nevada.