Buying a home in Boulder, Colo., is still the safest bet.
For the fifth year in a row, Boulder ranked as the best housing market nationwide based on home price growth and stability, according to a new report from SmartAsset.
The odds of a major drop in home prices in Boulder were 0% — and properties in the city have increased 268% in price since 1994. Boulder was one of three Colorado cities to rank among the Top 10 most stable markets, along with Fort Collins (No. 4) and Denver (No. 8). Texas also had three cities at the top: Midland (No. 2), Austin (No. 3) and Houston (No. 9).
The study analyzed 25 years of home-value data across 358 metropolitan areas around the country from the Federal Housing Administration. The metro areas were then ranked based on two factors: Overall home price growth and the probability that a homeowner would experience a significant price decline of 5% or more within a decade after purchasing a property.
Overall, the top end of the ranking did not shift too much since SmartAsset’s 2018 study. Billings, Mont., Grand Forks, N.D., and Casper, Wyo., dropped out of the Top 10.
San Francisco and San Jose rose this year to tie at No. 6 from No. 13 and No. 15 last year, respectively. “A stable housing market requires years of consistent performance, so it’s not unusual that places repeat year after year,” the study noted.
However, homeowners have nearly 1 in 5 odds of a 5% drop in home prices in San Francisco and San Jose. And recent data have suggested larger home price cuts could be on the horizon as sales activity in those markets has become rather depressed as the high cost of housing has pushed would-be buyers to the sidelines.
The post This City Has the No. 1 Most Stable Housing Market in the Country appeared first on Real Estate News & Insights | realtor.com®.
Source: Housing Trends Feed