5 Markets Beating the Housing Bust

March 01, 2012 / Russell Legato, Residential Property Analyst

In spite of the drop in prices that residential real estate is selling for, there are some markets that are beating the housing crisis. In some areas, homes are being sold for 18 percent more than prior to the market drop. This growth happened in small cities that did not experience the housing boom; therefore they now can avoid the diminished prices. The Buffalo-Niagara Falls and the Davenport-Moline-Rock Island area that covers parts of Iowa and Illinois has homes selling below the 2011 national median price of $166,100.

5 Markets Beating the Housing Bust

Unlike much of the country, homeowners in those geographic areas can still sell at a profit. In the Shreveport-Bossier area in Louisiana, the median price of a home is higher. The median sale price that was $103,400 is now 13 percent higher, $156,200. Elmira New York had the lowest number of foreclosures in 2011. One factor that helped is that excessive building did not take place as it did in some cities in the past decade.

The lack of foreclosures and construction of new buildings keep real estate prices on an even keel in Davenport IA. There has been little fluctuation in prices and a 17 percent sales price growth rate. Unemployment isn’t low; but, it is below the average on a national level. Jobs at the John Deere manufacturing plant brought young home buyers back to Davenport after college. They did not worry about residential real estate being against taking a job. They pitched in and worked an honest job for wages.

His strong work ethic and analysis of every facet of residential real estate enabled him to care for a sick mother, a lethargic brother and his own daughter. When prices were not affected by the recession, some sales took place.

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