Pro Teck Valuation Services' Home Value Forecast (HVF) for this month examined the top three U.S. markets in terms of population growth from 2000-2014 and found that as the population increased, home price appreciation also increased accordingly.
The Villages in Florida as well as Midland and Austin in Texas ranked the highest in terms of population growth percentage, further benefiting from stronger housing markets.
‘Although metro areas may differ from each other in terms of economy, industry and generations, the higher population growth areas are at or near all-time highs in home prices and do not show much impact from the housing crisis,’ says Tom O'Grady, CEO of Pro Teck Valuation Services.
This month's HVF update also includes a listing of the 10 best- and 10 worst-performing metros as ranked by its market condition-ranking model. The rankings are run for the single-family home markets in the top 200 metropolitan statistical areas (MSAs) on a monthly basis.
March's top MSAs include the following:
- Bellingham, Wash.;
- Denver-Aurora-Lakewood, Colo.;
- San Antonio-New Braunfels, Texas;
- San Francisco-Redwood City-South San Francisco, Calif.;
- San Diego-Carlsbad, Calif.;
- San Jose-Sunnyvale-Santa Clara, Calif.;
- San Rafael, Calif.;
- Santa Rosa, Calif.;
- Vallejo-Fairfield, Calif.; and
- Yuba, Calif.
The bottom MSAs for March were as follows:Â
- Fort Lauderdale-Pompano Beach-Deerfield, Fla.;
- Gary, Ind.;
- Huntington-Ashland, W.V.-Ky.-Ohio;
- Jacksonville, N.C.;
- Lake County-Kenosha County, Ill.-Wis.;
- Miami-Miami Beach-Kendall, Fla.;
- Pensacola-Ferry Pass-Brent, Fla.;
- Saginaw, Mich.;
- Scranton-Wilkes Barre- Hazleton, Pa.; and
- Youngstown-Warren-Boardman, Ohio-Pa.