2. Miami, FL
Home price forecast (1 year):* -22.5%
One of the most heated markets during the real estate bubble, Miami is now paying the price. It was severely overbuilt and its inventory of homes for sale has grown recently as foreclosures have flooded the market.
See Miami on Money's Best Places to LiveConstruction has played a major role in the local economy for decades and with building now stagnant, employment has suffered. The metro area unemployment rate stood at 10.9% in December, higher than the national average. Home prices plunged nearly 15% in 2009, a stiff drop that's likely to be exceeded this year, with a further forecast decline of more than 22%. Is this a good time to buy a home in Miami?
| ||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||
