This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

5 Cities That Aren't Seeing a Housing Recovery

BOSTON ( TheStreet) -- The long-running housing bust seems to have finally ended in most of the country, but here's a look at five markets where the bad times roll on.

"These markets are great bargains relative to the rest of the country, but that comes with a price: You're probably not going to see home values recover or increase there as much as in other areas," says Daren Blomquist of RealtyTrac, which recently ranked the five metro areas dead last in its Housing Market Recovery Index.

RealtyTrac's index scores 100 of America's largest metro areas based on seven measures of market health, from the local jobless rate to how many homeowners are "underwater" (owing more on their mortgages that their properties are worth).

Blomquist says cities at the very bottom of the list mostly sit in the Pennsylvania/Maryland area, which he says appears to suffer from "a combination of lingering foreclosures and an economy that's not rebounding much."

The expert adds that the nation's weakest housing markets are also all in states that have "judicial" foreclosure rules, which require lenders to go through long court processes to seize homes.

States with "non-judicial" rules generally allow quicker property seizures, which reduce consumer protections but help clear up foreclosure backlogs more rapidly.

"I think it's logical that judicial-foreclosure states would have markets that are lagging the recovery the most, because they still have more foreclosures lingering around than other places do," Blomquist says.

Check out a rundown below of cities that RealtyTrac found are trailing the U.S. housing rebound by the greatest margin. (Or, click here to see five cities that are leading the recovery.)

A score of 100 equals the national average for all factors analyzed, while home-pricing figures refer to the median sale price for all houses, condos and townhouses in a given market.

All figures are as of June 30 and cover the 100 most-populous U.S. metro areas except for communities in states where public property records don't include sale prices.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs