Real estate markets all over the nation are experiencing unprecedented change, but the Hottest 10 Buyers Housing Markets in 2008 are exceptions to the rule. The Hottest 10 markets have also undergone more changes as a result of the national housing crisis that is seeing most markets decline.
The Hottest 10 forecast in 2008 have regional economies that are healthy and have strong potential for being exceptionally prosperous through the end of the year.
With a government sponsored program to rebuild from the devastation of Hurricane Katrina, Biloxi, Mississippi pulls into the #1 position. Biloxi is making slow but steady progress in its efforts to rebuild, which is certain to take decades.
"All you have to do is drive down to East Biloxi where we lost thousands of residents to understand," said Vincent Creel, a Biloxi city spokesman. "We lost 6,000 homes and businesses. That's a fourth of our stock." Rising construction costs, refusals by insurance companies to pay on insurance policies and the cries of economic hard times haven't made it easy on Biloxi. But despite the odds against them, Biloxi is beginning to slowly show it will flourish again.
Salem, Oregon moves into the second position, followed by Bismarck, North Dakota. Like the majority of the state, Bismarck has been spared the subprime debacle.
Spokane, Washington has historically been an exception to the national real estate seen. While other markets boomed, Spokane had a legacy of slow real estate sales. But home sales are forecast to remain relatively healthy through year's end, taking the #4 slot.
The Hottest 10 represent markets that aren't just the exceptions to the rule in national real estate trends, but show that no matter what the national economy is like there are always hot markets somewhere in real estate.
