Here’s a flashback from June 2007, courtesy of Forbes: Most Resilient U.S. Real Estate Markets
When it comes to real estate, the questions on everyone’s lips are: How low is low, and when’s the perfect time to buy back in?
That moment has passed in Seattle and Charlotte—both metros hit bottom in the first quarter of 2006 and have since posted price gains of 12.3% and 6.3%, respectively, according to National Association of Realtors (NAR) data.
Yes, you read that right. The housing market bottom in Seattle came in Q1 2006. More nuggets of wisdom:
Tampa is a perfect candidate for a V-shaped recovery, according to research from Moody’s Economy.com, an economic analysis, forecasting and credit risk firm.
…
Like Tampa, Phoenix is similarly afflicted by high investor share (26.1%) and it has a vacancy rate over 3%. Good affordability rates and a surging job market suggest that once Phoenix bottoms out, price growth will be strong. Moody’s projection model has Phoenix reaching its price trough in the fourth quarter of 2008 and then growing by 7.7% the following year.
V-shaped recovery, here we come! Here’s the complete list of cities featured in their slideshow of “Most Resilient U.S. Real Estate Markets”:
- Tampa, FL
- Phoenix, AZ
- Las Vegas, NV
- San Diego, CA
- New Orleans, LA
- Miami, FL
- Philadelphia, PA
- Los Angeles, CA
- San Francisco, CA
- Providence, RI
- Boston, MA
- Washington, DC
- Orlando, FL
- Minneapolis, MN
- Sacramento, CA
- New York, NY
- Denver, CO
- Detroit, MI
- Milwaukee, WI
Detroit. Yes, really.
Here’s the brief commentary I posted on this at the time.