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Housing market in Marquette predicted to rise in 2010

January 29, 2010
By JOURNAL STAFF

MARQUETTE -A housing market research Web site has predicted Marquette will be one of the top 25 housing markets in the country for the coming year.

Marquette ranked 12th in the calculations at housingpredictor.com, with a 3.2 percent increase in average housing prices predicted for 2010.

"We're excited about the report and the positive slant it puts on Marquette. We're looking forward to it having an effect on both the job market and population growth and ultimately real estate sales," said Chuck Swanson with the real estate appraisal company Swanson Mercier and Associates Inc.

He said the report was a tribute to the desirability of living in Marquette with its recreational opportunities and natural beauty.

Researchers at the Web site gather information on 20 factors for each market forecast, including income levels, employment rates and trends, commercial and residential construction, school enrollment levels, business openings and closings, new business development, regional political influences, real estate sales history and current housing market velocity.

Analysts then review each market separately to forecast the percentage each individual market will increase or decrease in average housing prices.

Cleveland topped the list while Marquette ranked above places like Grand Rapids, the only other Michigan city to make the top 25.

Twelve states are represented on the top 25 list, including many Midwest and northern-tier states that have been less severely impacted by the housing crisis, according to housingpredictor.com.

More housing markets are forecast to experience a rise in prices in 2010 as the nation's real estate markets move closer to stabilization. Despite the weak economy, the Web site claims home sales are increasing in the majority of the country and are projected to improve over at least the first half of the year boosted by the federal government's expansion of the first time home buyers' tax credit to move-up buyers.

Four Ohio markets top the list of the best 25.

 
 

 

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