It’s been a tough real estate year. In fact, it’s been a rough several years for the housing industry, and many experts are predicting more of the same for next year.
But, there’s always hope, and it starts now: The Chicago real estate market is being lauded as one of the top to watch in 2012.
Homes.org has released a list of the Top 9 Real Estate Markets to consider in 2012, based on several factors, including affordability, appreciation potential, price stability, area unemployment, job potential and median home prices.
Based on those factors, nine real estate markets stood out as cities where buying a home is likely to be a good investment, and Chicago was one of them.
No surprise there. With record-low mortgage rates and home prices, you know that once the smoke clears and the housing industry bounces back, Chicago home values will recover and then some. How long that will take is another story.
The Windy City was listed as a top performer on the Clear Capital Home Data Index Market Report for December. Chicago and its suburbs is one of the major markets in the Midwest, if not the major market, and the Midwest region has experienced the highest quarter-over-quarter gains.
The other eight markets to watch for in 2012, according to Homes.org:
*Santa Fe, NM