Dallas remains in the forefront of the extended housing recovery, showing up at #4 of 17 on this list, from CNBC & AOL.
The housing recovery is starting to heat up — so much so in some areas, the “b” word — bubble — is starting to pop up. “Nationwide, the housing market is not in a bubble. But there are probably some markets that are at risk for getting into bubble territory if they continue at the pace that they’re going,” said Daren Blomquist, vice president at RealtyTrac.
In a recent report from Realtor.com, the towns seeing the hottest recoveries, based on factors such as inventory, median list price, days on the market and search activity, were primarily on the West Coast, with 6 of the top 10 in California. Six months ago, 8 of the top 10 were in Florida. So, is the recovery, like the settlement of the U.S., moving east to west?
Actually, there are some methods to the recovery madness — but geography isn’t one of them.
The pros estimate the housing recovery started just over a year ago. Those early buyers? It was a lot of foreign investors buying up real estate in Sun Belt areas like Miami and Phoenix. “There were stories in 2012 of people being outbid for homes — individual homeowners getting outbid by all-cash buyers,” said Steve Berkowitz, CEO of Move Inc., the parent of Realtor.com.
Blomquist said buying activity really started to pick up in mid-2012 after Warren Buffett said on CNBC that he would buy up “a couple hundred thousand” single-family homes and rent them out if he had the logistical ability to manage the properties.
Read full article, including slideshow, at AOL Real Estate.