The past few weeks have showcased numerous signals that the real estate market is on the rise. It is noted that Bismarck, North Dakota, is expected to be the strongest market in the country in the year ahead, with housing values appreciating at a 5,6% clip, according to Veros. Other markets projected to be among the strongest in the year ahead include Honolulu, North Dakota, Harrisburg/Carlisle, Pennsylvania; and Pittsburgh, Washington, D.C., and Boston remain strong markets. While not many markets are fully rebounding, at least a good number of them likely won't see values fall at quite as rapid a pace as in recent years, according to the report.
Overall, the recovery in the housing market is limited to just a few markets and is taking a long to occur. The encouraging news is that many markets are no longer expected to be rapidly declining.
The weakest U.S. markets are in Nevada, inland areas of California, Washington and Oregon. The weakest market in the year ahead: Bakersfield, California, where foreclosures have been a huge problem.
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