U.S. Top 10 Best Performing Housing Markets – November 29, 2007

As anybody who has ever sold real estate knows, there are no national markets, only local markets. That adage holds true when you look at the condition of the real estate business nationwide. Business may be tough in many places, but it’s not tough all over.

In Salt Lake City, Charlotte, N.C., and San Jose, Calif., prices have climbed relentlessly. In the Northeast, the biggest gainers are the gritty cities of Buffalo, N.Y., Pittsburgh, Pa., and Philadelphia.

In the West, business is brisk in Northern California and the Pacific Northwest.

Here are the top 10 best performing housing markets, according to Forbes magazine, their third quarter median home sale prices, and the percentage that prices have risen compared to third quarter 2006.

* Salt Lake City — median home sales price: $246,700; Percent change: 14.1 percent
* Charlotte, N.C. — $220,000, 11 percent
* San Jose, Calif. — $852,500, 9.4 percent
* San Francisco — $825,400, 8.6 percent
* Raleigh, N.C. — $229,500, 7.5 percent
* Austin — $188,200, 7.2 percent
* Pittsburgh — $127,700, 6.1 percent
* Seattle — $394,700, 6 percent
* San Antonio — $154,700, 5.7 percent
* Portland, Ore. — $299,700, 5.2 percent

Source: Forbes, Matt Woolsey (11/21/07)