Dive Brief:
- Finance website SmartAsset has released its list of the 10 most stable housing markets, and Boulder, CO, led the rankings with a 308% increase in home prices, MarketWatch reported.
- Boulder is followed by Austin-Round Rock, TX (271%); Casper, WY (300%); Bismark, ND (244%) and Midland, TX (223%).
- SmartAsset looked at price growth activity since 1991 for 358 housing markets and selected the markets that showed the highest increases and the least likelihood of losing more than 5% of home value within 10 years of purchase.
Dive Insight
Most of the stable markets can be found in the Western and Midwestern states, far from the coastal markets like San Francisco, Seattle and Portland, OR, which have seen skyrocketing price growth in the last several years.
Daren Blomquist, RealtyTrac vice president of real estate, told MarketWatch that one of the factors in favor of the cities on the list is that, aside from price growth, those metros have "room to create more supply." In addition, price growth in coastal markets, he added, tend to build on "fickle" foreign investor demand.
Earlier this month, real estate data company CoreLogic reported that U.S. home prices increased 1.8% between March and April and 6.2% between April 2015 and April 2016. The firm also predicted that home prices would continue to rise — 0.9% between April and May and 5.3% by April of next year.
SmartAsset's 10 most stable housing markets include:
- Boulder, CO — 308% growth, 0% chance of a 5% loss within 10 years of purchase
- Austin-Round Rock, TX — 271% growth, 0% chance of a 5% loss within 10 years of purchase
- Casper, WY — 300% growth, 9% chance of a 5% loss within 10 years of purchase
- Bismark, ND — 244% growth, 0% chance of a 5% loss within 10 years of purchase
- Midland, TX — 223% growth, 0% chance of a 5% loss within 10 years of purchase
- Fort Collins, CO — 246% growth, 5% chance of a 5% loss within 10 years of purchase
- Billings, MT — 210% growth, 0% chance of a 5% loss within 10 years of purchase
- Missoula, MT — 272% growth, 15% chance of a 5% loss within 10 years of purchase
- Denver-Aurora-Lakewood, CO — 270% growth, 17% chance of a 5% loss within 10 years of purchase
- Grand Forks, ND — 188% growth, 9% chance of a 5% loss within 10 years of purchase