Nationally, housing prices are not doing well, data from the National Association of Realtors stated that existing homes sales fell 7.2% in January. However the Tri Cities are still doing well, a recent article by Smartmoney ranked the Tri Cities as one of five metro areas that are forecasted to have the best home prices in 2010. The Tri Cities are expected to have an increase in home values of about 3.96% in the fourth quarter of 2010. There are several factors Smartmoney found that influenced the forecast, they are: household income growth, population growth, the unemployment rate, and cost of housing. The Tri Cities is doing well in all of these areas; as a result of the stimulus money going into Hanford the Tri City area was able to keep unemployment rates down and housing prices continue to do well. The other four areas doing well in respect to home prices are: Fairbanks, Alaska; Charleston, South Carolina; Corvallis, Oregon; and Anchorage, Alaska.
Posted by Colleen Lane on
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