Housing outlook for '10

We're heading into the year-ahead forecast season, which in this economy is likely to see lots of conflicting opinions. A real estate valuation firm called Veros is out with its latest numbers that show L.A. home prices increasing a measly 2 percent over the next 12 months. As a benchmark, they're using single-family mid-price properties. And what communities will see the biggest percentage increases?

1. Beaumont /Port Arthur, TX +5%
2. Boulder, CO +5%
3. Amarillo, TX +5%
4. San Diego +4%
5. Charleston, WV +4%

Here are the weakest areas:

1. Reno, NV -12%
2. Las Vegas, -11%
3. Palm Bay / Melbourne / Titusville, FL -10%
4. Port St. Lucie / Fort Pierce, FL -9%
5. Miami / Ft. Lauderdale / Miami Beach, FL -9%

There's lots of educated guesswork in these forecasts. Much will depend on the foreclosure situation, and whether Congress extends that $8,000 tax credit for first-time homeowners.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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