Real Estate Forecast 2007: Region by Region

Provided by

• 

  David Rogowski, AOL

  Home Price Outlook for 30 Areas

  It seems that several real estate forecast experts are optimistic about home prices this year. Unfortunately, they don't predict sunny times for all regions.
  
  Check out our gallery to see the outlook for your region. Just remember that real estate forecasts don't come with a Doppler Radar.

  More on Real Estate:

  25 Best Affordable Suburbs

  Find Your Dream Home

• Albuquerque, N.M.

  Getty Images

  Albuquerque, N.M.

  
  Forecast:
  Sunny
  
  
  Avg. 30-Yr Fixed: 5.79%
  End 2006 Avg. Price: $187,500
  Projected End 2007 Avg. Price: $247,900
  
  Continued population growth among 35- to 55-year-old sect, and a steady 3% job growth are contributing factors to Albuquerque's sunny real estate forecast. See Full Report

  West Region: Overall Forecast

  Compare National vs. State Rates

• Atlanta

  Atlanta

  
  Forecast:
  Sunny
  
  
  Avg. 30-Yr Fixed: 5.75%
  End 2006 Avg. Price: $166,800
  Projected End 2007 Avg. Price: $170,200
  
  Last year, Atlanta's residential population reached four million, and single-family construction has remained high after 2005's record-breaking year. How sunny is that? See Full Report

  South Region: Overall Forecast

  Compare National vs. State Rates

• Bangor, Maine

  Bangor Region Chamber of Commerce

  Bangor, Maine

  
  Forecast:
  Partly Cloudy
  
  
  Avg. 30-Yr Fixed: 5.80%
  End 2006 Avg. Price: $121,579
  Projected End 2007 Avg. Price: N/A
  
  Home to Stephen King, the third largest city in Maine, with 144,000 residents, enjoys stability and the least number of foreclosures across 30 markets. See Full Report

  Northeast Region: Overall Forecast

  Compare National vs. State Rates

• Boise, Idaho

  Boise, Idaho

  
  Forecast:
  Sunny
  
  
  Avg. 30-Yr Fixed: 5.79%
  End 2006 Avg. Price: $179,301
  Projected End 2007 Avg. Price: $258,350
  
  A bright spot for investment-driven home purchases, Boise's real estate forecast is also supported by a healthy economy and 5.5% job growth. See Full Report

  West Region: Overall Forecast

  Compare National vs. State Rates

• Boston

  Boston

  
  Forecast:
  Partly Cloudy
  
  
  Avg. 30-Yr Fixed: 5.80%
  End 2006 Avg. Price: $388,000
  Projected End 2007 Avg. Price: $379,940
  
  Bostonians may expect a partly cloudy real estate outlook triggered by an exodus of families and a continued influx of relatively cash poor students. See Full Report

  Northeast Region: Overall Forecast

  Compare National vs. State Rates

• Chicago

  Chicago

  
  Forecast:
  Partly Cloudy
  
  
  Avg. 30-Yr Fixed: 5.83%
  End 2006 Avg. Price: $268,100
  Projected End 2007 Avg. Price: $303,750
  
  A partly cloudy real estate forecast for Chicago reflects the city's current state of modest economic, population and housing growth. See Full Report

  Midwest Region: Overall Forecast

  Compare National vs. State Rates

• Denver

  Denver

  
  Forecast:
  Partly Cloudy
  
  
  Avg. 30-Yr Fixed: 5.75%
  End 2006 Avg. Price: $245,600
  Projected End 2007 Avg. Price: $244,980
  
  Denver's partly cloudy real estate forecast may have a little rain coming its way as home prices are continue to readjust. See Full Report

  West Region: Overall Forecast

  Compare National vs. State Rates

• Kansas City

  Kansas City, Mo.

  
  Forecast:
  Partly Cloudy
  
  
  Avg. 30-Yr Fixed: 5.80%
  End 2006 Avg. Price: $153,100
  Projected End 2007 Avg. Price: $183,000
  
  Home prices should increase by the end of the year, however, the rising number of foreclosures (up 78% for Jan. '07) indicate a cloudy real estate outlook. See Full Report

  Midwest Region: Overall Forecast

  Compare National vs. State Rates

• Las Vegas

  KRT

  Las Vegas

  
  Forecast:
  Stormy
  
  
  Avg. 30-Yr Fixed: 5.80%
  End 2006 Avg. Price: $313,500
  Projected End 2007 Avg. Price: $333,870
  
  Why the gloom? Las Vegas real estate suffers from a surplus condo inventory, and banks foreclosed on more than 2,000 properties in Jan. 2007. See Full Report

  West Region: Overall Forecast

  Compare National vs. State Rates

• Little Rock, Ark.

  Little Rock, Ark.

  
  Forecast:
  Sunny
  
  
  Avg. 30-Yr Fixed: 5.80%
  End 2006 Avg. Price: $125,900
  Projected End 2007 Avg. Price: $165,330
  
  The sun shines on Little Rock, which hit record construction growth for 2005 and 2006, and still enjoys an undervalued market rating. See Full Report

  South Region: Overall Forecast

  Compare National vs. State Rates

• Los Angeles

  Los Angeles

  
  Forecast:
  Stormy
  
  
  Avg. 30-Yr Fixed: 5.77%
  End 2006 Avg. Price: $586,500
  Projected End 2007 Avg. Price: $571,490
  
  The nation's second most expensive condo market, Los Angeles, consumes 89% of residential income. No wonder the real estate outlook is stormy. See Full Report

  West Region: Overall Forecast

  Compare National vs. State Rates

• Miami/Fort Lauderdale, Fla.

  Miami/Fort Lauderdale, Fla.

  
  Forecast:
  Stormy
  
  
  Avg. 30-Yr Fixed: 5.72%
  End 2006 Avg. Price: $336,800
  Projected End 2007 Avg. Price: $430,420
  
  Experts forecast stormy times for this Florida region, saying this bubble hasn't burst yet, but insurance premiums may be the big pop. See Full Report

  South Region: Overall Forecast

  Compare National vs. State Rates

• Minneapolis

  Minneapolis

  
  Forecast:
  Partly Cloudy
  
  
  Avg. 30-Yr Fixed: 5.78%
  End 2006 Avg. Price: $228,300
  Projected End 2007 Avg. Price: $263,750
  
  After a year of stable prices, the real estate outlook for Minneapolis hints at recovery but the increase in foreclosures may drag the market back down. See Full Report

  Midwest Region: Overall Forecast

  Compare National vs. State Rates

• Nashville

  Nashville, Tenn.

  
  Forecast:
  Sunny
  
  
  Avg. 30-Yr Fixed: 5.76%
  End 2006 Avg. Price: $150,000
  Projected End 2007 Avg. Price: $214,280
  
  Foreclosures in 'music land' are on the decline, and forecasters believe Nashville is immune to the housing bubble cycles affecting the rest of the country. See Full Report

  South Region: Overall Forecast

  Compare National vs. State Rates

• New Orleans

  Corbis

  New Orleans

  
  Forecast:
  Stormy
  
  
  Avg. 30-Yr Fixed: 5.85%
  End 2006 Avg. Price: $162,100
  Projected End 2007 Avg. Price: $241,180
  
  A post-Katrina New Orleans market has no place to go but up. Also, the slow-paced reconstruction of residential housing holds the market. See Full Report

  South Region: Overall Forecast

  Compare National vs. State Rates

• Philadelphia

  Philadelphia

  
  Forecast:
  Partly Cloudy
  
  
  Avg. 30-Yr Fixed: 5.82%
  End 2006 Avg. Price: $222,300
  Projected End 2007 Avg. Price: $277,590
  
  Philadelphia's real estate forecast could turn in either direction depending on current population trends and job growth. See Full Report

  Northeast Region: Overall Forecast

  Compare National vs. State Rates

• Raleigh, N.C.

  Corbis

  Raleigh, N.C.

  
  Forecast:
  Sunny
  
  
  Avg. 30-Yr Fixed: 5.77%
  End 2006 Avg. Price: $226,300
  Projected End 2007 Avg. Price: $236,100
  
  Raleigh owes its sunny real estate forecast to its relatively young, hip professional population whose presence is attracting more residents to this region. See Full Report

  South Region: Overall Forecast

  Compare National vs. State Rates

• Seattle

  Seattle

  
  Forecast:
  Partly Cloudy
  
  
  Avg. 30-Yr Fixed: 5.79%
  End 2006 Avg. Price: $372,900
  Projected End 2007 Avg. Price: N/A
  
  Foreclosures are down 67% while jobs have increased over the past year. Yet, experts are on the fence about this overvalued market. See Full Report

  West Region: Overall Forecast

  Compare National vs. State Rates

• Washington, D.C.

  David Rogowski, AOL

  Washington, D.C.

  
  Forecast:
  Partly Cloudy
  
  
  Avg. 30-Yr Fixed: 5.83%
  End 2006 Avg. Price: $421,600
  Projected End 2007 Avg. Price: $440,000
  
  Fewer new listings and a decline of new construction could help the nation's capital stabilize its housing market. See All 30 Cities

  Northeast Region: Overall Forecast

  Compare National vs. State Rates

• 

   

  Forecasts for More Cities
  
  1. Billings, Mont. - Sunny
  2. Birmingham, Ala. - Party Cloudy
  3. Cincinnati - Stormy
  4. Detroit - Stormy
  5. El Paso, Texas - Sunny
  6. Nassau, N.Y. - Stormy
  7. Oklahoma City - Sunny
  8. San Francisco - Foggy
  9. Salt Lake City - Partly Cloudy
  10. Syracuse, N.Y.- Sunny
  

  More From Special Report:

  Analysis for 30 Areas in 2007

  What $400,000 Buys Around U.S.A.