Last week, we shared some data released by Federal Housing Finance Industry that highlighted the top 5 areas to find a lower priced home. The study also provides insights into the top 5 states where you’re most likely to see a return on your housing investment. These areas reflected a quarterly appreciation when compared to home prices from the first quarter of 2009.
1. Washington DC – Home sale prices in the District of Columbia were up a whopping 14.2% compared to last year. That’s an appreciation level nearly double the percentage of the state in the #2 spot. DC has been referred to as “recession-proof” due to the government being a steady source of jobs that attract people from all over the country. If you are one of those people you may want to consider investing in real estate.
2. North Dakota – This state boasts low crime, good public schools, low unemployment and saw an appreciation level of 7.48%. The North Dakota housing market is one of the most stable in the country and there is a very low foreclosure rate as well.
3. California – Popular areas such as San Francisco & San Diego have house prices that are way up and the entire state saw an appreciation of 2.85%.
4. Colorado – Colorado is bouncing back from the recession at an impressive rate. Home prices are following suit – up 1.51% from last year.
5. Vermont – There are a lot of beautiful, scenic areas to call home in Vermont. And with housing prices up 1.44% it’s also a great place to invest in a home.
It’s good news for both buyers and sellers that housing prices are on the rise in some areas. Current home owners now have a better chance of selling their house for what it’s worth. People looking to buy a home can buy with confidence knowing that home prices in these areas are on the rise. Home buyers will want to act quickly and take advantage of historically low mortgage rates in order to get a low monthly payment on the home of their dreams.