Knoxville TN Listed in Top 10 Recovering Markets
Great information from Knoxville Realtor Blake Rickels. Knoxville, Tennessee has always been blessed with a fairly stable real estate market no matter what the mythical “national market” is doing.
Sure, we,ve been down like most every other part of the country, just not as far down and now we don’t have as step a climb to make for a recovery.
Knoxville being number 5 in lowest foreclosures is a step in the right direction.
No cities have totally avoided the foreclosure crisis, but some were able to sidestep the worst of it. These markets are now recovering quickly.
The recovery is swiftest in those areas that didn’t have as much of a housing price run up to begin with, either because the economy in those areas has stayed healthy or the economy has been limited for decades and residents have adapted or left.To identify places where the recovery has begun, Forbes magazine examined the number of loans that were foreclosed in the 100 largest metropolitan statistical areas. Then it calculated the percentage of loans that are descending further into delinquency vs. those that are improving. The lower the deterioration ratio, the higher the ranking.
Here are the cities that fared best by that measurement and are recovering the most quickly:
1. Harrisburg-Carlisle, Pa.
2. Austin-Round Rock, Texas
3. Ogden-Clearfield, Utah
4. Buffalo, N.Y.
5. Knoxville, Tennessee
6. Raleigh, N.C.
7. San Antonio, Texas
8. Syracuse, N.Y.
9. Salt Lake City, Utah
(Tied)
10. Moline, Ill.
10. St. Louis
10. Wichita, Kan.
10. Rochester, N.Y.
Source: Forbes, Francesca Levy (12/09/2009
