5 Best Housing Markets for the Next Five Years
No. 1 best market: Miami
Expected five-year price gain: 18.7%
Long the poster child for South Florida's housing bust and foreclosure crisis, Miami gets the top spot in HousingPredictor.com's study because the 2.5 million-population metro area's real estate market has finally begun to turn around.
Media list prices already rose 15.5% over the past year on Realtor.com, and Colpitts thinks the recovery has just begun -- fueled partly by investors from Latin America and other foreign locales."Miami is an international designation for vacationers and has become a world-class resort community, attracting home and condo purchasers from all over the world," he says. "If there's ever been a time to buy housing in Miami in this decade, chances are this is it." Property buyers will find some 12,000 Miami homes listed on Realtor.com. Prices start at $12,600 for a one-bedroom condo and run to $125 million for an 11-bedroom oceanfront estate.
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