Veros Real Estate Solutions, an industry leader in risk management, has released its most recent quarterly report showing signs of accelerated recovery in some housing markets while other markets continue to struggle with slight recovery.
According to Veros, the forecast displays "fewer significant drags across an increasing number of markets, many of which are beginning to emerge with initial signs of appreciation for the first time since the market's decline".
The city of Phoenix has been predicted to the the top performing market with a 5% appreciation rate.
Projected 5 strongest markets
1. Phoenix-Mesa-Scottsdale, AZ +5.0%
2. Bismark, ND +4.3%
3. Shreveport-Bossier, LA +3.4%
4. Anchorage, AK +3.1%
5. Fargo, ND/MN +2.7%
Bakersfield , CA sits at the bottom of the housing market for the third consecutive quarter with depreciation of 6.3%. Although the Bakersfield market is still experiencing the gretest rate of depreciation it is an improvement over the previous quarter's 6.8% rate.
*Projected 5 weakest markets
1. Bakersfield, CA -6.3%
2. Modesto, CA -4.9%
3. Fresno, CA -4.9%
4. Reno-Sparks, NV-4.7%
5. Stockton, CA -4.7%
*Inland CA and NV markets make up 7 of the 10 weakest markets.
Soucre:VeroFORECAST.
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