Apr 02, 2009

Billings leads U.S. forecast for housing appreciation

Billings is ranked No. 1 in the nation

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By: Billings Gazette

Billings is ranked No. 1 in the nation for expected 2009 housing price appreciation by HousingPredictor.com, a Web site that provides housing news and real estate market forecasts for more than 250 U.S. cities.

Four other Montana cities and one Wyoming city were listed in the top 15, though only 10 of the top cities showed increasing values.

Fargo, N.D. was No. 2 at 1.8 percent; Lander, Wyo., was No. 3 at 1.7 percent, Bozeman No. 7 at 1.3 percent; Great Falls was No. 11 at -0.9 percent; and Livingston and Missoula tied for No. 12 at -0.8 percent.

The report said that, "As it gets harder and harder to find housing markets that are appreciating or not falling at double-digit rates of deflation, North Dakota and Montana stand out as examples of what went right with America's real estate markets during the boom."  The survey said researchers gather information on more than 20 factors including economics, political influences, business development, construction, employment levels and other socioeconomic issues.

Billings' strong job market was cited as one reason behind its high ranking.

The top 15 cities: 1. Billings, 2.1 percent; 2. Fargo, N.D., 1.8 percent ; 3. Lander, Wyo., 1.7 percent; 4-5. Trenton, N.J., and Morgantown, W.Va., 1.6 percent; 6. Logan, Utah, 1.4 percent; 7. Bozeman, 1.3 percent; 8-9. Albany, Ga., and Fairmont, W.V., 1.2 percent; 10. Minot, N.D., 1.0 percent; 11. Great Falls, -0.9 percent; 12-14. Livingston, Missoula and Bismarck, N.D., -0.8 percent; 15. Grand Forks, N.D., -1.1 percent.