Bubble burst? What bubble burst? The danger in talking about local situations as if they applied across the board is that real estate is always a local situation and what's a bubble bursting in one area can be a time someone else's balloon is expanding rapidly.
Take a look at these metro areas that were the biggest value gainers in 2006, according the National Association of Realtors.
2006 biggest value gainers
Rank/Metropolitan statistical area/One-year appreciation (%)
1. Salem, Ore. 19.8
2 Virginia Beach-Norfolk-Newport News, Va.-N.C. 19.4
3 Spokane, Wash. 17.7
4 Salt Lake City, Utah 16.7
5 Eugene-Springfield, Ore. 16.7
6 Baton Rouge, La. 15.9
7 Gainesville, Fla. 15.9
8 Ocala, Fla. 15.5
9 Dover, Del. 14.7
10 Portland-Vancouver-Beaverton, Ore.-Wash. 14.7
Source: National Association of Realtors, February 2007 Metropolitan Area Existing-Home Prices and State Existing-Home Sales report
Wednesday, March 21, 2007
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