Is San Diego hottest U.S. housing market?
Could America’s hottest real estate market — and that’s a tepid terms these days — be just down the I-5 from us?
We could not help but notice that San Diego was the one and only of the 20 big markets tracked by the S&P/Case-Shiller indexes to post a price gain from October to November. (Yes, it was a meager 0.1% gain!) And San Diego was only one of four markets — and, yes, LA/OC was another — to post year-over-year gains by S&P math. (San Diego’s up 2.6% in the year; LA/OC is up 2.1%.)
So we then found it intriguing when we learned that San Diego was pegged as the market most likely to succeed in 2011 by home-valuation tracker Veros from Santa Ana! Here’s 2011’s hottest and coldest housing markets in terms of Veros’ projected price change:
HOT
1. San Diego, up 3.5%
2. Kennewick, Wash., up 3.4%
3. Pittsburgh, up 2.7%
4. Fargo, N.D., up 2.6%
5. Washington, DC, up 2.5%COLD
1. Reno, down 7.2%
2. Orlando, down 6.5%
3. Boise, Idaho, down 6.4%
4. Daytona Beach, Fla., down 6.3%
5. Port St. Lucie, Fla., down 6.3%
PS: Veros forecasts flat pricing in Orange County for this period! Eric Fox of Veros on O.C.: “Supply is much lower than in 2008 which is allowing market to remain stable and when combined with the best affordability in years and in an improving economic outlook, it is anticipated that 2012 will bring a return to modest appreciation in Orange County.”
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