PMI, the private mortgage insurance company, comes out with a list every quarter of areas they think have the lowest possibility of having lower home prices in the next quarter.
Areas Least Likely to See Lower Home Prices
- Fargo ND
- Grand Forks ND
- Cedar Rapids IA
- Killeen TX
- Ames IA
- Morgantown WV
- Iowa City IA
- Fayetteville NC
- Little Rock AR
- Bismarck ND
There you have it. If you want little downside risk to your home’s value, move to North Dakota.
P.S. The high temperature today in Fargo, North Dakota will be 31 degrees. Not bad but the forecast for Monday is a high of 12 degrees. Now that’s nippy!
P.P.S. My father was from North Dakota and he loved to call his friends and family back home this time of year.
P.P.P.S. Now that I think about it, the real downside risk is that you won’t enjoy living in North Dakota… unless you have an Arizona home too!
{ 3 comments… read them below or add one }
Michelle 02.06.10 at 7:53 am
Quite a number of those locales have military bases. For instance, Fayetteville has Fort Bragg, Killeen has Fort Hood, Minot Air Force Base is near Bismark, and Grand Forks AFB at Grand Forks
John Wake 02.06.10 at 11:32 am
Michelle, Interesting observation! John
Michelle 02.06.10 at 7:03 pm
Being retired military, that’s the first thing I noticed about that list. I knew those four cities, but I didn’t bother to research the other six.