| In a study of the 100 biggest housing markets | | | | the next 12 months. The median home price is |
| by population in the United States, Fiserv | | | | at $122,000 and the median mortgage loan is |
| Lending Solutions has come up with top five | | | | 11 % of the income. The five year price |
| cities that are predicted to have the maximum | | | | change is at 22.4 %. The city's worst one |
| home price gains and bottom five that are | | | | year decline was at 4.1 % during '94 to '95. |
| expected to show price declines from April | | | | |
| 2007 to April 2008. | | | | The following are the bottom five cities of |
| | | | the list of 100 biggest housing markets. |
| The top 5 cities that are slated to show home | | | | |
| price gains are as follows: | | | | 1.Fort Lauderdale, Florida: Prices are |
| | | | falling in this city and are expected to |
| 1.McAllen, Texas: It's good news for McAllen | | | | slump down by 5.5 % by April 2008. The median |
| home buyers with Fiserv forecasting a price | | | | home price is at $345,000 and the median |
| gain of 9.8 percent over the next year for | | | | mortgage loan consists of 31 % of the income. |
| this Texas city. The projected price change | | | | The five year price change is at 128.4 %. The |
| for the five year period is 26.5 %. The | | | | city had experienced its worst year of |
| city's median home price is $130,000 and | | | | decline through '88 to'89 at 3.1 %. |
| median mortgage loan as a percentage of | | | | |
| income is 25 %. McAllen's worst one year | | | | 2.Phoenix, Arizona: Home prices are expected |
| decline was at 12.3 % during '88 to '89. | | | | to slack by 5.5 % in the next 12 months. The |
| | | | median home price is at $271,000 and the |
| 2.Tulsa, Oklahoma: The home prices are bound | | | | median mortgage loan forms 26 % of the |
| to grow by 4.3 % from this April to the next. | | | | income. The five year price change for |
| The city is expected to have a home price | | | | Phoenix is at 103.8 %. The year of worst |
| change of 17.6 % over the next five years. | | | | decline has been from '81 to '82 with price |
| Tulsa's year of worst decline was during '86 | | | | decline of 6.0 %. |
| to '87 and the slump during this decline was | | | | |
| 7.5 %. The median home price is $135,000 and | | | | 3.Nassau/Suffolk, New York: Home prices may |
| the median mortgage loan makes up to 14 % of | | | | fall by 6 % over the next year in this metro |
| the income. | | | | area. The median home price is at $483,000 |
| | | | and the median mortgage loan forms 31 % of |
| 3.El Paso, Texas: Another city of Texas where | | | | the income. The five year price change is at |
| home prices are expected to rise, El Paso has | | | | 76.3 % and the city saw the worst decline in |
| a median home price of $130,000. The median | | | | home price in '88-'89 when prices came down |
| mortgage loan forms 14 % of the median | | | | by 6.6 %. |
| income. The projected price change for the | | | | |
| next 5 years is at 17.6 %. El Paso's worst | | | | 4.Miami, Florida: Price drops of as much as |
| one-year decline was during '87 to '88 when | | | | 8.8 % are expected in the Miami housing |
| it experienced a home price decline by 17.5 | | | | market. The median home price is at $335,000 |
| %. | | | | and the median mortgage loan forms 41 % of |
| | | | the income. The forecast predicts a five year |
| 4.Scranton, Pennsylvania: Scranton's home | | | | price change of 149.3 %. The city's year of |
| prices are forecasted to increase by 3.9 % | | | | worst decline was during '88 to '89 with a |
| over the next one year. The city has a median | | | | downswing of home prices at 4.3 %. |
| home price of $118,000. With the median | | | | |
| mortgage loan at 13 % of the income, Scranton | | | | 5.Las Vegas, Nevada: The fall in home prices |
| makes a good buying market for homes this | | | | is forecasted at the highest in Las Vegas at |
| year. Home prices are slated to increase | | | | 8.9 % during a one year period from April |
| steadily with the 5 year projection at 41.2 | | | | 2007 to April 2008. The median home price is |
| %. The city experienced its worst price | | | | $325,000 and the median mortgage loan |
| decline of 7.2 % between '94 and '95. | | | | consists of 33 % of the income. The five year |
| | | | price change is at 119.8 %. The worst one |
| 5.Rochester, New York: Rochester is projected | | | | year decline that the city experienced was at |
| to have a 3.7 % increase in home prices over | | | | 17 % during '88 to '89. |