Still, U.S. housing markets face headwinds, the biggest hurdle, i have noticed so far in buying a home is that there “aren’t many to choose from.” As more buyers are running after dwindling inventories of houses and foreclosed properties (fewer) that sell at discount — prices are beginning to rise in markets.
Based on a report released by the National Association of Realtors, non-American buyers now accounted a total of $82 billion in home sales last year.
More than $7 billion of that is by the Chinese investors, who are now the second largest foreign home buyers after Canadians. Chinese are buying high-end, multimillion-dollar homes from California to New York and paying cash.
According to Shanghai magazine Hurun Report, mainland China has almost 1 million millionaires and nearly half of them say they want to invest in the United States.
With the unemployment rate coming down, these are few housing markets that are projected to see the slowest growth in home prices:
1) Miami-Miami Beach-Kendall, Florida - Annualized expected growth from 2012 – 2017: -0.6 percent
2) Fort Lauderdale-Pompano Beach-Deerfield Beach, Florida - Annualized expected growth from 2012 – 2017: -0.2 percent
3) Naples-Marco Island, Florida - Annualized expected growth from 2012 – 2017: +0.9 percent
4) Phoenix-Mesa-Glendale, Arizona - Annualized expected growth from 2012 – 2017: +1.1 percent
5) Midland, Texas- Annualized expected growth from 2012 – 2017: +1.2 percent
6) Elmira, New York - Annualized expected growth from 2012 – 2017: +1.3 percent
7) Denver-Aurora-Broomfield, Colorado - Annualized expected growth from 2012 – 2017: +1.3 percent
8) Atlantic City-Hammonton, New Jersey - Annualized expected growth from 2012 – 2017: +1.4 percent
9) Clarksville, Tennessee-Kentucky - Annualized expected growth from 2012 – 2017: +1.4 percent
10) Ann Arbor, Michigan - Annualized expected growth from 2012 – 2017: +1.5 percent
11) Washington-Arlington-Alexandria, DC-Virginia-Maryland - Annualized expected growth from 2012 – 2017: +1.6 percent
12) Ithaca, New York - Annualized expected growth from 2012 – 2017: +1.7 percent
13) Nashville-Davidson–Murfreesboro-Franklin, Tennessee – Annualized expected growth from 2012 – 2017: +1.7 percent
14) Amarillo, Texas - Annualized expected growth from 2012 – 2017: +1.7 percent
15) Crestview-Fort Walton Beach-Destin, Florida - Annualized expected growth from 2012 – 2017: +1.8 percent
The post U.S. housing markets that are projected to see slowest growth in home prices appeared first on CEOWORLD Magazine.
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