Posted by: Bart Schroeder on: May 22, 2009
List? Which list? Well, in case you were living under a rock and missed it, the big news this week was noted Real Estate Guru, Barbara Corcoran’s Top 5 list of cities poised to recover quickest from the downturn. Perched atop that list was our fair city, besting the likes of perennial “top list” inhabitants such as San Francisco CA, Austin TX, Seattle WA, and Raleigh NC.
Noting that there are several factors which argue for a strong housing market, Corcoran listed both Job and Population Growth as numbers one and two. It also helps to have good weather, she noted. Sorry about that, Buffalo. Other characteristics, which many of us would tend to ignore, play a role as well. When you think about it, cities which have an abundance of first time home buyers, a highly educated work force and vital downtowns would seem to have the edge. It also helps if problems of overbuilding in cities are on the decline. Though listed last by Corcoran, by no means least is the fact that Denv
er was among the first cities to bear the brunt of the wave of foreclosures sweeping the country. That dubious distinction early on has been a blessing in disguise in that much of the crisis is now behind us. And, the latest market data suggests that there is, indeed, a trend in place. Days on Market is shrinking, as is inventory. No longer shrinking, thankfully, are prices. Thanks Barbara, for the PR. View video —->
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