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Forbes names Springfield as Top 10 housing investment market

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Springfield has been recognized by New York City-based Forbes magazine as No. 9 on the top 10 best U.S. housing markets for investors.

Utilizing information provided by Cary, N.C.-based real estate research firm Local Market Monitor, Forbes identified the top picks based on data such as the change in home rices for the second quarter of this year, a three-year home price forecast and population growth 2000–05.

LMM analyzed data through Sept. 1 for metropolitan statistical areas with populations of at least 400,000, also considering the jobs mix in each area and job growth predictions for the next three years.

According to LMM's research, housing prices in the Springfield metropolitan statistical area decreased 3 percent. The area had a three-year home price forecast of 1 percent, and 8 percent population growth 2000–05.

The "sweet spot" for investing, the article said, is a market where the population was increasing prior to the recession, strong job growth is expected in the next three years and  home prices are at or near bottom.

Forbes posted a mirroring story, blog and photo gallery naming and showing these top ten cities.

Raleigh-Cary, N.C., led the list with a second-quarter home price change of -3 percent, a three-year home price forecast of 0 percent and 2000–5 population growth of 18 percent.[[In-content Ad]]

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