Magazine article Mortgage Banking

Hot Markets

Magazine article Mortgage Banking

Hot Markets

Article excerpt

JUST CRUISE AROUND YOUR NEIGHBORHOOD AND COUNT THE FOR-SALE SIGNS. THE nation's real estate markets are jumping--even with rates climbing. The experts are predicting that 1999 will be the fourth consecutive year of record home sales. That's what a hot economy can do for housing.

In this issue, we scout out some of the best housing markets--and do some advance reconnaissance of the markets likely to sink the fastest when the ultimate downturn comes. There are some real high-flying markets out there, and home prices are soaring in them. Consider these numbers: Fort Worth saw existing home sales rise by 26.9 percent last year and Memphis had an increase in existing home sales of 22.6 percent. Yet both are expected to dip a notch next year in the rankings of hot mortgage markets produced by the Mortgage Bankers Association of America's Research Division.

The top 10 hot markets this year, according to the MBA rankings, are: Atlanta, Las Vegas, Orlando, Raleigh, Tampa, Austin, Phoenix, Fort Worth, Dallas and Memphis. But you need to read the article to find out which of these markets will stay on top in 2000. …

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