Top 10 High Growing Housing Market

The housing market is probabaly enjoying one of the biggest red hot growth. Triggerred by record low mortgage rate, people are buying real estate as if they are shopping in dollar stores. Although the red hot housing market has cooled down a bit recently, the price appreciation for houses in hot real estate markets for past few years were just overwhelming. Many home owners who bought the houses at least for two or three years have seen their home prices doubled and some of them even trippled.

My colleague who bought a house in Diamond Bar, California, one of the hottest market has seen his home value doubled from $300,000 when he bought the houses two years ago to $650,000 earlier this year. Another friend of mine who bought his house seven years ago in Fontana, San Bernardino County, California, one of the top 10 high growing housing market, is enjoying a monsterous appreciation from $130,000 to above $450,000.

The national median price of a home was $212,000 in September, 2005 up 13% from year ago. Please note that the media home price is just the national average and if you take a look at the top 10 high growing housing market from early last year to first quarter this year you will see why everyone is now talking abou the possible housing bubble.

The top 10 high growing housing market is listed according to the percentage increase and includes the current median housing price.

1. Bradenton, Florida - 45.6% - $275,100
2. Sarasota, Florida - 36% - $326,300
3. West Palm Beach, Florida - 35.9% - $362,800
4. Riverside/San Bernardino, California - 32.6% - $343,400
5. Ft. Launderdale/Hollywood/Pompano Beach, Florida - 31.8% - $320,700
6. Las Vegas, Nevada - 29.4% - $291,000
7. Melbourne, Florida - 29.3% - $184,000
8. Orlando, Florida - 28.7% - $194,400
9. Miami, Florida - 28.4% - $315,700
10. Ocala, Florida - 27% - $122,200

Looking at the list, have you notice the interesting trend that I've noticed? That's right not only all top 10 high growing housing market are in southern part of United States but also 80% of them are in the state of Florida. These places have warmer climate and are probabaly attracting the baby boomers who are now reaching the retirement age. So if you haven't bought a house and are condering getting one, find the ones that baby boomers would like.