Top 10 Housing Markets for 2007

The entire year 2006 was probably one of the worst years for the real estate market in a very long time. Every viable market from 2005 was plummeting to the depths of all-time lows. Forecasters were appalled with the losses investors were shouldering and foreclosures reached a record high. Will the downward spiral continue or will we pull out of the tail spin and fly above the loss?

For 2007, Forecasters are not looking at the classic markets for gain. The focus will turn to market where cost of living and living cost relative to the nation is lower than average. Here are the 10 markets to look forward to in 2007.

MCALLEN-MISSION, TX

With a population of nearly 180,000 people, McAllen-Mission, TX (actually made up of McAllen, TX and Mission, TX) is not what you would call a metropolis. The town is situated very close to the Mexico, TX border and has a median household income of nearly $39,000. The average home cost is $102,000 and is expected to rise by more than 18% by 2008.

This market is on the bubble and will begin to boom very quickly. If you want to make a pretty penny, get in now while the market is still on the downside.

EL PASO, TX

Another Texas city getting ready to flourish is El Paso. With a population hovering on the tip of 600,000, this next door neighbor to New Mexico is a much sought after city. The median income is about $37,000 and job growth is exponential. Currently homes are selling for around $109,000 but should have an appreciation of around 12% within the next year.

Again I must stress that this market is on the bubble. Getting into the real estate business and investing here will only bring you gains.

ALBUQUERQUE, NM