You're never going to guess which big-time housing market has enjoyed the greatest year-over-year price gains?
Between January 2009 and January 2010, the Cape Coral-Fort Myers metro area saw its median home price jump 19.6%, according to Housing Intelligence, the economic news and analysis division of the Hanley Wood publishing company.
The Southwest Florida market is considered to be one of the poster children for the housing debacle, along with perhaps Las Vegas and Phoenix. But Housing Intelligence found that it is sinking no more.
"Home prices in the region likely rebounded as the local economy is slowly recovering and distressed properties are now garnering demand from both primary home buyers and investors alike," the Costa Mesa, Calif., based firm surmised.
The next two markets with the greatest gains were in Texas, and the two after that were in Oklahoma. To be considered for the list, a market needed to record at least 500 total home sales - both new and used - in each January.
San Antonio had the second best rate of appreciation at 11.4%, followed by Austin, 6.6%; Oklahoma City, 6% and Tulsa, 5.6%.
While it is still widely believed that house prices on a national level will continue to slide, Housing Intelligence said in its weekly newsletter, "these locales are on pace to buck the trend."
