McAllen-Edinburg-Mission, Texas, was rated the No. 1 housing market because of a strong recovery in jobs, which have increased 4 percent over the past 12 months, according to Ingo Winzer, president of Local Market Monitor.
San Jose-Sunnyvale-Santa Clara, California, was rated No. 2 on the list, with home prices more affordable than most markets. The same can be said for Akron, Ohio, and Houston-Sugar Land-Baytown, Texas, which were rated in third and fourth place, respectively.
The worst housing market in the United States belongs to Wilmington, Delaware, which is suffering from continued job losses and falling home prices with no uptick foreseen in the near future.
Home prices in Atlanta-Sandy Springs-Marietta in Georgia and Tucson, Arizona, also plagued the cities, which were voted the second- and third-worst housing markets. Jacksonville, Florida, was rated the fourth-worst housing market due to home prices that have dropped by 33 percent and a jobs decrease of 8 percent.
Pittsburgh was rated No. 5 top housing market while the No. 5 worst market was given to Sacramento-Arden-Arcade-Roseville, California.
With single-family housing up 4.4 percent in December 2011 and continuing to rise, homebuyers might avoid packing up and moving to one of the bottom housing markets, but be encouraged by the positive numbers other markets are showing.
With single-family housing up 4.4 percent in December 2011 and continuing to rise, homebuyers might avoid packing up and moving to one of the bottom housing markets, but be encouraged by the positive numbers other markets are showing.
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