Where Home Prices Are Rising Fastest

 Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

 Where Home Prices Are Rising Fastest

In some areas, mostly in the western U.S states, the swell of improving home prices continues which has homeowners and investors seeing déjà vu all over again. Although many areas continue to lag, some California areas look to be the places where the appreciation will rise quickly. What city tops the list of the 10 metro area home prices expected to climb anywhere between 10% and 21%?  Over in the Central Valley Madera, CA sits in the pole position.
1. Madera, Calif.

Median home price: $125,000
Drop since market peak: 53.1%
Forecast gain through 2013: 21.5%

One might not think anywhere in the Central Valley would be quick for a rebound but home buyers started coming back to Madera earlier this year.

Most of the reason that Madera tops the list has to do with the rock bottom prices. Madera, like many neighboring cities got hit hard during the crash, now the prices have begun to push upward. At $125,000, the median home price sits well below the national average of $163,000, according to Fiserv.

Buyers get plenty of square footage for their money: Recently, a 2,400 square-foot home with three bedrooms and three baths sold for just $127,000. Five years ago, the same home went for about $375,000.

However, upon closer inspection these good deals come mostly via foreclosures or short sales, so the market remains distressed.

And like most of cities in the Central Valley, Madera’s unemployment picture remains high at 16.6% in March, according to the Bureau of Labor Statistics. So beware of unemployment numbers because that could lead to another crash or at least a softening in the market.

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

Where Home Prices Are Rising Fastest

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3 Comments

Filed under California, Foreclosure, short sales

3 responses to “Where Home Prices Are Rising Fastest

  1. Pingback: Modesto Ranks Fourth As Most Affordable U.S. City To Buy A Home | Resource Blog

  2. Pingback: Modesto Ranks Fourth As Most Affordable U.S. City To Buy A Home « yasminallen

  3. Pingback: Mortgage Applications Rise But Not Mortgages Numbers | Resource Blog

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