SmartAsset’s 2018 list of the top cities for growth and stability in housing was recently published. Typically when a housing market appreciates, often property owners start fearing the wors. They wonder when the correction will come. According to quarterly data from 1993 to 2017, certain cities were most likely to keep growing.
SmartAsset’s research team evaluated the probability that a homeowner experienced a five percent or greater loss in home value over the 10-year period after purchasing the home. They also measured increases in home prices over the last decade to establish an index measure for each market. In total, the group evaluated 359 metro areas, with a score of 100 on the stability metric indicating a zero percent chance of a price decline.
Top Cities for Stable Housing Growth
According to the SmartAsset metric, the top five cities for stable housing growth are:
- Boulder, Colorado
Average home value rose 276 percent over the past 25 years with almost a zero percent chance that a homeowner saw a significant decline in home value.
- Austin-Round Rock, Texas
Average home value rose 243 percent over the past 25 years with nearly a zero percent chance for experiencing significant home-value declines.
- Bismarck, North Dakota
Home values rose 224 percent over the past 25 years, on average, with nearly zero percent chances of experiencing a price decline.
- Fort Collins, Colorado
Fort Collins experienced 241 percent home price growth. There was a four percent chance that homeowners could have experienced a decline in value.
- Midland, Texas
Midland experienced 214 percent average home price growth over the past 25 years and, the group said, had a zero percent chance of significant price decline.