Veros Projects Strongest, Weakest Markets

""Veros Real Estate Solutions"":http://www.veros.com, a Santa Ana, California-based provider of risk management and collateral valuation services, recently released its quarterly forecast of U.S. housing markets, including predictions of the country’s strongest and weakest areas. The company’s results, covering July 1, 2009 to June 30, 2010, indicate the rates of expected property declines in the hardest hit markets are slowing and expected to stabilize over the next 12 months.
According to Vero’s latest forecast, the projected five strongest housing markets for single-family residences in the median price tier include: Lubbock, Texas; Oklahoma City, Oklahoma; and Waco, Texas - all up 3 percent - as well as Topeka, Kansas; and Springfield, Missouri - each up 2 percent.
The five weakest market projections include: Port St. Lucie/Ft. Pierce, Florida; Miami/Ft. Lauderdale, Florida; and Las Vegas/Paradise, Nevada - all showing 15 percent declines. Posting a 14 percent drop is the Detroit/Warren/Livonia, Michigan market, and at a 12 percent decline is the Reno/Sparks, Nevada market.
""Veros"":http://www.veros.com has provided valuation forecasting analysis of price gains and declines in the real estate industry since 2003. Covering more than 80 percent of the United States, Veros explained that its valuation forecast focuses on three pricing tiers and three levels of granularity including metro area, county, and zip code. The company applies more than 50 critical factors in its forecast analytics, including unemployment rates, inflation, housing inventory levels, and economic and geographic issues.