Destin, FL (PRWEB) January 5, 2009
The annual best and worst housing market forecasts for 2009 have been released by Housing Predictor dot com, which forecasts more than 250 local real estate markets in all 50 U.S. states. The Top 25 Markets and the Worst 25 Market forecasts are issued annually and updated throughout the year as local market conditions change.
The best and worst markets have the highest probability of hitting their forecast appreciation and deflation from all the forecasts the research company issues. Nearly two years ago, long before the credit crisis became daily headline news Housing Predictor analysts forecast-ed the foreclosure epidemic and the real estate depression.
Despite the fall out of the credit crisis, however, there are housing markets that are projected to be exceptions in the worst economy since the Great Depression in 2009, illustrating the fact that real estate markets are normally driven by local market dynamics.
North Dakota, Montana and Colorado all have markets forecast to appreciate in 2009 that made the Housing Predictor Top 25 market list. A total of seventeen housing markets scattered throughout the country are forecast to appreciate during the year.
The national epidemic of foreclosures has topped 3.3-million homes and is projected to worsen in 2009 as the second round of Alternative A Option adjustable rate mortgages reset. More than 3-million ALT A mortgages will reset in 2009 alone. As a result, a high number of housing markets will sustain double-digit housing deflation as Congress and the new White House Administration of President-elect Barack Obama try to come up with solutions to aid the nation's ailing economy.
Markets in more than three dozen states are projected to sustain double-digit housing deflation, including California, Florida, Michigan, Hawaii, Massachusetts, Arizona, Nevada, New York, Connecticut, Delaware, South Carolina, New Mexico and Georgia. The troubled auto industry is impacting markets in the mid-west, triggering more foreclosures, including Indiana and Ohio.
Check your market forecast, search foreclosures and keep up with other real estate news at http://www.housingpredictor.com.