5 Worst Housing Markets for 2013
No. 4 worst market: Cincinnati
Projected price change: 0.4%
This is the only big U.S. city where Zillow believes home prices have yet to bottom out.
Even though Cincinnati's median property values are down 14.9% from a 2008 peak, the site predicts prices there will keep falling until mid-2013, then rebound a bit late in the year. All told, Zillow expects the Queen City's median home price to inch up just $533, to $122,433, by 2013's end.
Humphries attributes Cincinnati's lackluster prospects primarily to a lack of buyer interest among "the demand [drivers] we see in cities that are performing the best right now -- retirees, second-home purchasers and foreign investors." The fact that Ohio is a judicial-foreclosure state also puts a lid on the city's outlook, he says.Select the service that is right for you!
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