Destin, FL (PRWEB) January 29, 2008 -- Despite national fall out from the credit crunch, real estate markets in at least six states are still showing that some areas of the U.S. are economically strong enough to produce appreciating home markets, according to the latest Housing Predictor study.
Housing Predictor tracks real estate markets in all 50 states and forecasts more than 250 local housing market futures throughout the nation. The research firm is regularly consulted by top Wall Street bankers, real estate companies and most importantly consumers for their market forecasts and real estate analysis.
In all, some eighteen states have at least one housing market tracked by the firm that is experiencing appreciation, and six states have made the Annual Housing Predictor Appreciation List at the start of the year. Texas, North Dakota, Washington and Hawaii are among the six to make the list.
Housing markets in the over-whelming majority of the country have slowed from the real estate boom and are experiencing weaker local economies with rising unemployment rates. The majority are also under going the worst foreclosure crisis in the nation's history with more than an estimated 1.8 million foreclosures nationally as a result of the credit crunch. Housing Predictor forecast in early 2007 that more than 3-million foreclosures would occur through the end of 2009. Mortgage problems started in subprime loans and then spread into conventional adjustable rate mortgages.
However, strong business growth producing more jobs are sending real estate markets in the six states into better local economies than the rest of the country. As a result, some economists believe the U.S. economy will not fall into a national depression. However, the majority of economists in a study conducted by Housing Predictor now believe the nation is on the road to a recession.
Home sales in the majority of the country are falling as buyers become uneasy over the nation's financial future, but not as significantly in the appreciating states. The housing crisis has broadly extended into the conventional mortgage market and is taking a major toll on the national economy.
The tax refund plan agreed to by members of Congress and the White House will do little to relieve the nation's economic problems in real estate, which has long been controlled by the Federal Reserve setting interest rates.
To learn more about housing markets that are appreciating, check your markets forecast or search foreclosures visit http://www.housingpredictor.com
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