Local Market Monitor Identifies Markets That May Perform Best

The 10 large markets which will have the best performance in home price over the next 12 months were those that did not have a housing boom and had relatively small job losses in the past year, according to the Local Market Monitor third quarter 2009 Home Price Forecast. Those markets are: Baton Rouge, La.; Buffalo/Niagara Falls, N.Y.; Dallas; Fort Worth/Arlington; Houston; Little Rock, Ark.; Omaha, Neb.; Pittsburgh; San Antonio; Syracuse, N.Y.; and Wichita Falls, Texas. "Right now, a good market is still one where home prices aren't going down. However, this will change as the recession eases. Next year we'll see good price increases in many markets," said Ingo Winzer, president of Local Market Monitor, a Cary, N.C.-based company that provides real estate valuation forecasts. At the other end of the spectrum, the markets with populations over 600,000 which could see the largest declines in home prices in the next 12 months are: Fresno, Calif.; Las Vegas; Miami; Orlando; Phoenix; Portland, Ore.; San Jose, Calif.; Stockton, Calif.; Tacoma, Wash.; Tucson, Ariz.; and West Palm Beach, Fla.