According to Trulia.com, a real estate tracking website, the 2013 housing market for Austin, Texas is looking very bright. Four out of 10 Texas cities were recognized as being healthy housing markets for 2013. The study ranked cities by home price, job growth rate, home price stability, foreclosure rate and vacancy rate.
Interestingly, rising home prices did not make Trulia’s criteria for a healthy housing market. According to the study, many cities that have skyrocketing home prices are rebounding from extreme price declines during the recession and weak fundamentals including large vacancy rates and poor job growth. Therefore, cities with strong price increases do not necessarily mean healthy housing market. While some cities like Las Vegas and Phoenix show signs of rising home prices, they still lack the fundamentals for a healthy housing market and did not make the cut for Trulia’s Top 10 healthy housing markets for 2013.
2013’s Top 10 Healthiest Housing Markets
- Houston, TX
- San Francisco, CA
- Bethesda-Rockville-Frederick, MD
- San Antonio, TX
- Austin, TX
- Seattle, WA
- Omaha, NE-IA
- Peabody, MA
- Fort Worth, TX
- Louisville, KY-IN
Read more about the healthiest housing markets for 2013 on Trulia.com’s blog here.