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Real Estate Guide 2007
Analysis by region
National statistics are meaningful, but in real estate "location, location, location" means local trends trump all.
Analysis by region
Real estate forecast for 30 areas in 2007


The residential real estate fog that's engulfed the nation is starting to lift in favor of a far sunnier outlook, according to several real estate forecasters.

But while the worst may be over, there's still some nastiness to come. As the market bottoms out with prices in coastal areas dropping harshly and sales declining, other markets are poised for growth.

Exactly where, how and when depends on which forecaster you ask. We asked:

  • Chris Porter, senior consultant with John Burns Real Estate Consulting and former director of Professional Builder magazine's Website.
  • Richard F. Moody, chief economist and director of research of Mission Residential, a real estate investment firm.
  • Dr. Lawrence Yun, Managing Director of Quantitative Research at the National Association of Realtors where he manages the Statistics and Forecasting Groups of the Research Division.
  • Ingo Winzer, president of Massachusetts-based Local Market Monitor, a real estate analysis firm which looks at housing costs across the country.
Top 30 areas
Metros Forecast Overnight average*
30 year fixed rate
+/-
Albuquerque, N.M. 5.11%
Atlanta 4.96%
Bangor, Maine 5.15%
Billings, Mont. 5.18%
Birmingham, Ala. 5.03%
Boise, Idaho 5.14%
Boston 5.01%
Cincinnati 5.02%
Chicago 5.02%
Denver 4.92%
Detroit 5.07%
El Paso, Texas 4.97%
Kansas City, Mo. 5.03%
Las Vegas 5.32%
Little Rock, Ark. 5.15%
Los Angeles 4.91%
Minneapolis 5.03%
Miami/Fort Lauderdale, Fla. 4.88%
Nashville, Tenn. 4.96%
Nassau, N.Y. N/A N/A
New Orleans 5.19%
Oklahoma City 5.17%
Philadelphia 5.19%
Raleigh, N.C. 5.05%
San Francisco 4.91%
Salt Lake City 5.12%
Seattle 4.95%
Syracuse, N.Y. 5.23%
Tucson, Ariz. 4.99%
Washington, D.C. 5.08%
* Understanding Bankrate's rate averages -- Posted: March 8, 2007
 
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