5 Best Housing Markets for 2013
No. 1 2013 market: Riverside, Calif.
Projected median price gain: 12.5%
Property values in this city 60 miles east of Los Angeles tumbled nearly 70% during the housing bust, but have been rallying back sharply for more than a year as buyers snap up bargain-priced homes.
"Riverside was one of the hardest-hit markets in the country, but now its affordability is extremely high," Humphries says.Median price have returned to early 2003 levels, "and when you pair that with today's 3.5% 30-year fixed mortgages, anyone who can reasonably qualify for a [Federal Housing Administration] loan can afford a home there," he says. That's why Zillow expects Riverside's median home price to jump 12.5% this year, to $222,108.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV