These markets are bucking the downturn and posting double-digit growth. What makes them so special?
By Les Christie, CNNMoney.com staff writer
June 27 2007: 11:14 AM EDT
NEW YORK (CNNMoney.com) -- In the middle of a nationwide housing slump, a few markets have held their ground - and then some.
In Seattle, for example, the median home sale price was $380,200 during the first three months of 2007, according to the latest stats from the National Association of Realtors (NAR). That's a 12.3 percent year-over-year increase.
Ten other metro areas among the 156 markets covered by NAR also recorded double-digit, year-over-year price increases.
So what have they get that other markets don't?
The main ingredient is a set of positive fundamentals, including strong job and population growth, which then fuel demand for houses.
In Seattle, many residents can find high-paying work in the tech industry in an area with an unemployment rate recently under 4 percent. A hot job market has drawn workers from outside, adding to housing demand.
http://money.cnn.com/2007/06/22/real_estate/bust_what_bust/index.htm?postversion=2007062711
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