Eric Fox is VP of Statistical and Economic Modeling at Veros Real Estate Solutions. Fox received his M.S. in Statistics and B.S. in Mathematics and Economics from Purdue University, and has 30 years of industrial experience in statistical and econometric modeling, probabilistic life methodology development, statistical training, probabilistic design software development, and probabilistic financial/competitive analysis.
With a growing population and bustling business growth, the Dallas-Fort Worth-Arlington MSA is projected to see some growth in real estate appreciation but may be softening in the coming months. Read Eric Fox's analysis for more detail.
The recent announcement that one of Amazon's two new headquarters will be in Arlington, Virginia, just over an hour's drive from historic Richmond, may begin to have ripple effects through eastern Virginia as early as next year.
The Orlando-Kissimmee-Sanford, Florida Metropolitan Statistical Area lays claim to Theme Park Capital of the World and number one in job growth among the nation's large metros. So what's housing going to do there for the next year. Click through for your answer.
[Expert commentary] The latest VeroFORECAST report shows that 351 Metropolitan Statistical Areas will experience property appreciation in the next year. But, of the bottom 10 MSAs, seven will see values decline between -0.2% and -2.2% in 2019. The two most troubled markets? Farmington, New Mexico, and Vineland-Millville-Bridgeton, New Jersey.
According to the latest VeroFORECAST, this MSA is projected to see 11.7% appreciation for single-family residences and 11% appreciation for condos and townhomes and its market remains one of the strongest markets in the country, with its extremely low 1.4-month supply of homes struggling to fill the demands of its growing population.
Fargo's notoriety, at least as a pop culture reference, has been on the rise since the release of a Coen brothers' comedy in 1996 and recent success of the television series it inspired. But when it comes to property values in the Fargo, ND-Moorhead, MN, MSA, the projected rise will be modest at best, according to VeroFORECAST projections. Read an exclusive analysis from Veros' Eric Fox to learn more.
Five years ago, Detroit, the principal city in the Detroit-Warren-Livonia, Michigan Metropolitan Statistical Area, was declaring bankruptcy with debt estimates as high as $20 billion. This summer, those troubles seem comfortably in the rearview, according to the latest VeroFORECAST, which shows that real estate values in the nation's 14th most populous MSA are predicted to increase at an average of 6.8% over the next 12 months.
Reno will appreciate at a rate of 9.5% over the next year. The neighboring Carson City MSA is also projected to see property values appreciate at 9.5%. Neither was in the Top Ten for home price appreciation last quarter. So what happened?
This southern city is predicted to see a 7.6% rate of real estate appreciation over the next year and is ranked 39th out of 354 MSAs analyzed in Veros' latest VeroFORECAST. Where is it? Read more to find out.
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Housing affordability is a crucial ingredient in any thriving community. And yet, in cities and towns across the country, there is a growing recognition that truly “sustainable communities” can be created only when multiple forces come into play. The cost of a home is only one of those factors.