Albany Real Estate in Forbes Top 25 Housing Markets
Albany, N.Y. was named to the Forbes magazine list of the “Top 25 Strongest Housing Markets” in the country, ranking #21.
According to Forbes, the list is based on analysis done for the magazine by Moody’s Economy. Moody’s analyzed housing forecasts for metropolitan areas with populations over 500,000 through 2011.
Moody’s compared the forecasts to housing prices in the 2nd quarter of 2008 to determine how far prices are likely to drop before hitting bottom.
Albany accompanied it’s Upstate NY metropolitan neighbors Syracuse, Rochester and Buffalo on the list. Syracuse ranked #2, Buffalo #4 and Rochester was #15.
Forbes does not anticipate price increases in any of the metro areas before the end of the year, predicting the strongest metro areas will be “flat at best”. That is significantly better than Moody’s forecast of the 15 percent average drop for the entire country in 2009.
Tags: Albany real estate
January 29th, 2009 at 5:54 pm
Having lived in Albany NY for many years I realize that it has asomewhat stable economy with State Government and many colleges. I am looking to move back to the area soon.