While it has been difficult for those housing markets which suffered through a major decline over the past 5 years, it is great to see real estate in many of these cities coming back and strong. Based on a recent home price report from Trulia, Business Insider highlighted the top 10 "turnaround" housing markets of 2012. That is, the housing markets with the biggest increase in asking prices between December 2011 and December 2012.
These four California cities are among Top 10 turnaround housing markets: Oakland, San Jose, Sacramento and Fresno.
The asking price isn't necessarily the price at which a property is sold so what does looking at asking price reveal? Jed Kolko, Chief Economist at Trulia, writes in the Trulia report "asking prices lead sales prices by approximately two or more months, the Monitors reveal trends before other price indexes do." Given this pattern, an increase in home sales prices in these "turnaround" markets should be right around the corner.
Difference in real estate listing prices between 2011-2012:
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