9:28 am January 27, 2012, by David Markiewicz
A company that studies the housing market for the banking business, Local Market Monitor, has compiled a three-year forecast for the top 100 cities.
The prognosis for housing in Atlanta: not good.
In fact, the Atlanta-Sandy Springs-Marietta metroplex comes in No. 2 in the bottom five markets in the nation. That is, it’s second worst, behind only Wilmington, Del.
The problems with our market cited in the forecast are well familiar. The number of jobs has fallen, income is below average, prices have been falling and we overbuilt.
Rounding out the bottom 5 are Tucson, Jacksonville and Sacramento, all of which have suffered big drop offs in home prices.
The top five housing markets are: McAllen, Tx, San Jose, Akron, Houston and Pittsburgh.
The winners gained from factors including jobs growth and, in some but not all of those markets, home price stability in good times and bad. No boom, no bust. There’s more in the report from MarketWatch.
Get inside Atlanta\'s and national business news and how it affects you.