ARE HOME PRICES STILL RISING? IT IS A MIXED MARKET ECONOMY
Home prices are mixed, showing some surprising booms and some market weakness.
For example we reviewed markets in the NE part of the USA and home values are still rising from 5% to 15%. But to our surprise other areas are slower, such as the deep south and areas north of New Orleans. Austin, Texas and Central Texas have been booming for 3 years but now some home prices in that area are falling. Indeed the Great Plains, from Austin, and due north all the way to the Canadian Border are seeing some negative adjustments in home market values. The Western USA, especially California have been market leaders for years, but now values are a little weaker. New Mexico is booming with residential values and sales strong we think supported by good oil and gas production in the SE part of the state and the strong booming Albuquerque area.
See the green dots, the darker the green the higher home values exist in those areas.
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