Dive summary:
- Jed Kolko, who economics chief at real estate information supplier Trulia, Inc., has a list of markets he thinks are the top 10 for success in 2013, and he doesn't include big price gains in the fundamentals that drive his selections.
- Some of the biggest price gains came in markets that had big price declines before, and what matters more in Kolko's view are strong job growth, low vacancy rates and low foreclosure inventory.
- At the top of the pile for 2013 are:
1. Houston
2. San Francisco
3. Bethesda-Rockville-Frederick, Md.
4. San Antonio
5. Austin, Texas
6. Seattle
7. Omaha, Neb.
8. Peabody, Mass. (Essex County suburbs of Boston)
9. Fort Worth, Texas
10. Louisville, Ky.
From the article:
Just as losing lots of weight might be part of an unhealthy cycle of yo-yo dieting, big price gains aren’t necessarily a sign of a healthy housing market if they’re being driven by a post-crash rebound, rather than solid fundamentals. ...