From Oakland, Calif., to Memphis, Tenn., these major metro areas are expected to see the biggest increase in home prices this year, according to CoreLogic Case-Shiller’s latest home price forecast.
# 6 – Tampa, Fla.
- Median home price : $177,000
- Forecast gain through Sept. 2014: 8%
Once one of the nation’s leading foreclosure hotspots, things are starting to turn around in Tampa.
The area has been working through its foreclosure problem and the local economy is gaining steam with new employers, including Bristol Myers, opening offices, according to Bob Rohrlack, CEO of the Greater Tampa Chamber of Commerce.
In the 12 months ended September, home prices climbed 14.6% and they are expected to keep climbing in the new year. CoreLogic forecasts that they will rise 8% in the 12 months ending this September.
Despite the gains, buyers will still get a bargain. The median home price in the metro area is around $177,000, well below the national median of $207,000.
Full List:
- Oakland, California
- Fort Worth, Texas
- New Orleans, Louisiana
- Richmond, Virginia
- Hartford, Connecticut
- Tampa, Florida
- Baltimore, Maryland
- Birmingham, Alabama
- New York, New York
- Memphis, Tennessee
Source: CNN Money