Washington Home to Half of "Most Likely to Rise" Housing Markets

It seems like every few weeks a new study comes out saying this or that city is going to recover first from the housing slump- but when a national article lists 5 Washington cities as “Housing Markets That Will Rise Most This Year” we stand up and take notice.

The Tacoma area (always a darling with the top 10 lists) was listed as #3 in the top 10!

> Projected Price Increase Through 2011: +5.5%
> Unemployment Rate: 10%
> Median Family Income: $70,000
> Vacancy Rate: 7.8%
> Drop From Peak: -29.5%

Tacoma has a very stable middle-class population, with only a small percentage of families below the poverty line. The median home price in the fourth quarter of 2010 was $225,000 compared to a national average of $171,000. The biggest reason for the city’s projected recovery is the revival of the city’s main commodity-based industries: Tacoma has a major oil refinery center, and lumber and paper is also big in the city. The city’s home prices are expected to increase an average of 17.4% by the end of 2012. -24/7 Wall St

To see the other Washington cities featured in the article, click here.