Brake Housing

We forecast 25 Worst Housing Market Hits 13 States
The 25 worst housing markets in the U.S. in 2007 in the Housing Predictor provides represent the markets in thirteen states, which shows housing prices in much of the country continue to decline, despite local markets in 13 other states that are appreciating.
Miami, Florida was selected as the # 1 worst housing market in the nation, mainly due to a market that had seen top-flight assessment two digits driven by the construction of new condominiums in Miami, causing a downward spiral, resulting in a smaller market with rising unemployment.
More 25,000 new condominiums are due to take place in the next 15 months in Miami, made an inventory of new units on the market that will take years to sell out.
Not all Miami market will see double digit depreciation in 2007, in particular, there are cheaper houses under $ 250,000. None But the average loss of value is forecast by Housing Predictor to hit 13.9% by the end of the year.
In the west of San Diego, California, which attracts many for its mild climate all year round has a domestic market where sales are slow. San Diego to see prices fall an average of 13.5% in 2007 to the second position in the list of 25 worst of the market.
San Diego experienced some of the faster appreciation and highest in the nation before hikes in mortgage rates at first slowed the market and then brought recognition to an end. Higher end homes on the outskirts of La Jolla known for hosting the rich and famous now sold for as much as 35% off record high prices for almost three years.
housing markets in California are showing signs of stabilization in some areas, but will take time for markets to reach price levels that buyers are comfortable again in many throughout the state. California has the most local housing markets of the Worst 25 list than any other single state with seven making the grade.
On the coast this, the state of Florida is only second to California with four housing markets making the list, between Tampa and Orlando. However, many markets in Florida have already stabilized and are experiencing growth in sales activity. Florida markets fell after a series of hurricanes hit the state in 2004 and 2005, only to get much earlier than in many other areas of the country as a result.
Many of the most densely populated urban centers of the nation remains market having weakened as a result of higher interest rates and five years of above average appreciation, many in double digits. real estate cycles typically runs in cycles of 7-10 years at national level with some exceptions. Only two years typically run at fever level field survey.
New York, Massachusetts, Virginia, Colorado, Oregon, Michigan and New Jersey are among other states with markets listed in the worst 25.
Las Vegas, Nevada, who had the hottest housing market in the country for two consecutive years have almost reached the 50% appreciation on average over one year only was reduced to a distant 17th in the list. Sin City has seen its market for the brakes and then start to coast back to return to a more active market due to its tremendous growth in the last five years.
About the Author
Mike Colpitts is the Editor of Housing Predictor, which provides more than 250 local housing market forecasts in all 50 U.S. states. To see the Worst 25 Housing Market Forecasts in the U.S. and to find out what your market is doing visit
http://www.housingpredictor.com
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