Top Ten Markets for Home Appreciation

According to a U.S. News & World Report the Bremerton/Silverdale area has been listed as the Number One area in the Nation where home prices are expected to rise 5% annually over the next decade.

A team of researchers from Moody's Economy.com provided the report and needless to say the local Realtors were delighted to hear some good news for a change.

Bremerton and Silverdale, located on the Kitsap Peninsula and Puget Sound, is positioned very favorably for job stability because of their close proximity to the Naval Bases i.e. Bangor, Bremerton Shipyard and Keyport Naval station. The large metropolitan cities of Seattle and Tacoma are also in close proximity.

The economists of the Moody team looked at income growth and housing affordability. For example, in the year 2000, per capital income in the region was 1 percent below the national average. In 2008, it was 8 percent higher than the national average. "Few metro areas had such a dramatic turnaround in relative income" said Andrew Gledhill an economist with Moody's Economy.com.

Another important dynamic was in housing affordability. According to the economist a local household with a median income can afford much more than the median-priced home..."56 percent more". "This will be a positive factor to help drive long run price growth" he said.

The economist also noted that the Bremerton housing correction began earlier than elsewhere in Washington State. He said that makes Bremerton home prices closer to the bottom now and will rise sooner.

Mason County Realtors are pleased to hear this good news about our neighbors to the North because many of those home sellers relocate to our shorelines, golf communities and rural neighborhoods.

Here are the Markets in which home appreciation is expected to grow in the next Decade.

TOP TEN IN APPRECIATION list:

1. Bremerton-Silverdale, Washington: 5.22%
2. Glens Falls NY: 4.71%
3. Fort Collins-Loveland Colo: 4.06%
4. Corvallis, Ore: 3.95%
5. Anchorage, Alaska: 3.8%
6. Duluth, Minn.:3.74%
7. Sandusky, Ohio: 3.66%
8. Santa Fe, N.M: 3.57%
9. Pittsfield, Mass.: 3.51%
10. Decatur, Ill.: 3.44%