1) Affordable Home Prices
2) Low Inventory
3) Historical Stability (they didn’t crash in 2008)
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Revenutre Consulting’s list of the 10 Cities where the Housing Market WON’T CRASH is as follows:
10. Oklahoma City, OK – you can still buy a nice house in a good district for less than $270k in Oklahoma City’s Housing Market
09. Cincinnati, OH – local homebuyers in Cincinnati are still pending less than 30% of their median income on their mortgage, taxes, and insurance costs
08. Virginia Beach, VA – runs of the military, with a huge share of VA Loans. Home prices only about 10% overvalued based on historical fundamentals
07. Little Rock, AR – typical home price of $190k is 50% cheaper than Dallas and 60% cheaper than Austin.
06. Hartford, CT – the hottest housing market in America, with an insane 75% reduction in for sale inventory over the last 4 years
05. El Paso, TX – home prices in El Paso’s Housing Markets are still cheap. And the market has high cap rates for investors.
04. Pittsburgh, PA – home prices in PIttsburgh actually went up during the 2008 Housing Crash. Likely because they are still affordable and there is not much home building.
03. Louisville, KY – Louisville has a typical home value of $230k according to Zillow. That’s still fairly affordable for local buyers based on the area’s median income.
02. Richmond, VA – a stable housing market with a good employment base. There are still bidding wars in Richmond’s Housing Market due to low inventory.
01. Albany, NY – didn’t crash in 2008 or the early 1990s. Albany is only 8% overvalued and has very low inventory.
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