10 Safest Housing Markets, Fall 2006
November 9th, 2006 • Related • Filed Under
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Yesterday, we showed you the riskiest housing markets to buy in, now we have the safest markets to puchase a home in according to the PMIÂ Group. These communities the private mortgage industry thinks will show the safest places to buy without fear of a loss of value.
- Pittsburgh, 6.1 percent
- Indianapolis-Carmel, Ind., 6.3 percent
- Memphis, Tenn.-Miss.-Ark., 6.8 percent
- Cincinnati-Middletown, Ohio-Ky.-Ind., 7.2 percent
- Cleveland-Elyria-Mentor, Ohio, 7.4 percent
- Columbus, Ohio, 7.4 percent
- Fort Worth-Arlington, Texas (MSAD), 7.6 percent
- San Antonio, Texas, 7.8 percent
- Nashville-Davidson-Murfreesboro, Tenn., 8.6 percent
- Houston-Sugar Land-Baytown, Texas, 8.8 percent
The percentage is the probability determined by the PMI Institute that housing prices in that market sector will go down 10 percent or more in the next two years. Pittsburghs chance of losing 10 percent is 6.1 percent making the city the safest investment according to the PMI Group.
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Pingback by Housing Slump Headed Here? | Pittsburgh Homes Daily on 14 November 2006:
[...] Throw into the mix some statistics from the ground that the average sales price in Pittsburgh for the first 9 months of the year was up $5,000 (over two percent) from the first 9 months of last year.  Stir in Pittsburgh’s spot as #1 on the PMI list of the 10 safest housing markets (courtesy of the Real Estate Bloggers). [...]