INC NEWS - area real estate market to skyrocket

[RW Pickle]

A friend sent me this and it was interesting enough to pass on.
RWP
27 Beverly


Study sees Raleigh-Durham real estate appreciation among highest in U.S.

A study released Tuesday predicts that the Raleigh-Durham area will post
one of the nation's five highest home value appreciation rates over the
next 12 months.

Research released by Veros Real Estate Solutions projects that home prices
in Raleigh and Durham will rise about 8 percent over the next year, tying
Tampa, Fla., for the fourth-highest rate.

Seattle is the only market expected to hit double-digit growth, at about
11 percent. San Bernardino, Calif., and Jacksonville, Fla., follow with
home appreciation rates pegged at 9 percent.

Rounding out the top for growth in home values are: Riverside, Los Angeles
and Oakland, Calif.; Tucson, Ariz.; and Nashville, Tenn., all at 7
percent.

In contrast, Rochester, N.Y., is expected to top the list of 10 markets
with the most home value depreciation, 4 percent.

Other markets projected to see a decline in home values are: Worcester,
Mass; Sacramento, Calif.; Memphis, Tenn.; and Dayton, Ohio. Also in the
bottom 10 are Grand Rapids, Mich.; Boston; Cleveland; Detroit and Fall
River, Mass. Home values in those cities are predicted to remain flat.

"We expect some home price appreciation on the hot market side, but
nothing compared to what we've seen in the past," said Eric Fox, Veros
vice president of technology, in a written statement. "There are no 25
percent-plus markets in our projections. Appreciation is slowing way
down."

The methodology used by Veros to predict appreciation rates relies on 50
metrics in its calculations such as interest rates, unemployment rates,
inflation, population, buildable land and current inventory.

Based in Santa Ana, Calif., Veros develops software used to predict
mortgages and gauge the value of property.