Veros Real Estate Solutions, headquartered in Santa Ana, Calif., has released its latest quarterly forecast results for the third quarter of 2007 through the second quarter of 2008 – revealing the strongest and weakest markets in residential real estate.
According to Veros, the markets that are expected to experience the strongest growth and, in contrast, the most rapid depreciation in home values for the specified time period are Raleigh-Cary, N.C. (7%); Austin-Round Rock, Texas (6%); Charlotte-Gastonia-Concord, N.C.-S.C. (6%); Salt Lake City (6%); and Albuquerque (5%).
The top weakest markets are predicted to be Palm Bay-Melbourne-Titusville, Fla. (-9%); Sacramento-Arden-Arcade-Roseville, Calif. (-8%); Sarasota-Bradenton-Venice, Fla. (-7%); and Riverside-San Bernardino-Ontario, Calif. (-7%).
To arrive at its calculatations, Veros applied over 50 metrics, including economic indicators such as interest rates, current inventory, unemployment rates, inflation, population and buildable land.