Dallas-Plano-Irving, Texas topped the HomeVestors/Local Market Monitor top 10 list, with San Antonio, Texas coming in second. Although Grand Rapids-Wyoming, Michigan fell to third, their numbers remain strong. Orlando, Florida follows in fourth and Atlanta-Sandy Springs-Marietta, Georgia rounds out the top five.
A Local Market Monitor press statement notes that the data is ranked based on cities with increased job opportunities in the past year. The overall national average increase was 1.9 percent. The statement adds:
While the prices of homes have now recovered from the recession in Texas, Florida and California, the report predicts some markets in these states will be over-priced in another year - with the risk of a boom and bust down the road.
"Over the last year, we have seen an increase in population and job growth," said David Hicks, HomeVestors® co-president. "However, housing prices are increasing significantly faster than incomes. As a result, home sales are slowing, limiting the housing demand. Therefore, investors need to be careful where and when they invest."