|There's good news for the housing market in spring, especially in places such as long-suffering Miami, where demand may well start bumping up.|
- North Dakota. An oil-and-gas boom here is creating low unemployment and tight housing supplies, setting the stage for what Yun expects could be double-digit home-price gains this year.
- Miami. Investors snapped up cut-rate housing last year in this long-suffering housing market, eating up a lot of unsold inventory. "Now demand should begin to bump prices up," Yun says.
- Rocky Mountain states. The economist expects home sales to stabilize in Idaho, Utah and possibly Colorado -- three states that entered the housing bust relatively late and are therefore bottoming out later than other U.S. locales.
- Detroit and Cleveland. Home prices have fallen so much in these two Rust Belt cities that they'd have to rebound a bit just to get back to normal, Yun says. He notes that Detroit was the only major U.S. city to see housing values rise year-over-year in the latest monthly S&P/Case-Shiller Home Price Index report.
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