VeroFORECAST Reviews Home Price Activity in Eight Unique Markets
SANTA ANA, Calif., —Today Veros Real Estate Solutions, an industry leader in enterprise risk management and collateral valuation services, analyzed home price appreciation in the spookiest U.S. markets and, as it turns out, they are not scary at all. All of the cities, ranked among the “spookiest cities” for elevated paranormal activity, are projected to experience home price increases over the next 12 months. Recently, VeroFORECASTSM announced that home prices across the largest 100 markets would increase an average of 3.7% by Q3 2020, the same positive trajectory is expected for all of the spookiest cities across the nation.
The eight markets, identified by Conde Nast Traveler, indicates that cities with a penchant for the paranormal are located in states from coast to coast and even one locale is in Hawaii. Good news for ghost hunters, according to the VeroFORCAST, home prices are up even if the ghouls are getting down.
The VeroFORECAST of Spookiest Cities in the United States
|6||San Diego, CA||3.0%|
|7||New Orleans, LA||3.5%|
|8||San Antonio, TX||4.4%|
“Veros researchers have not visited each of the identified cities, but I wouldn’t mind, based on the solid home price appreciation we’ve observed in these places,” said Eric Fox, Veros vice president of Statistical and Economic Modeling. “Each location boasts positive price appreciation over the next year, which is a real treat.”
Portland, Oregon, claims a lot of haunted places from mansions to cemeteries (understandable) and even a pizza place (a little unusual). Most interestingly, there appears to be a haunted ghost ship that is occasionally seen on the Willamette River. Apparently, homebuyers are not deterred by any of this supernatural activity. According to VeroFORECAST, home prices will be up year over year in Portland by 3.4%, which is less than the national average, but still headed in a positive direction.
Other cities on the shortlist are located in historically spooky areas such as Boston where public hangings used to occur on the Boston Commons 200 years ago when this area was considered the town square. Home prices in Boston have been rising for several years with a 4.7% increase set to occur during the next year. Savannah, Georgia, is known for several hotels and guest houses with eerie spirits. But the home prices there are projected to be up a solid 5.5% during the next year. San Antonio, the location of the historic battle of the Alamo, also ranks among the most haunted cities and real estate prices there are going to be up 4.4% by Q3 2020. No list of haunted cities is complete without New Orleans. This city is home to the French Quarter with a rich history that includes more than a few ghost stories. From orphanages to gallows, there are plenty of spirits allegedly roaming around. Homeowners pay no mind, home prices there are expected to increase at least 3.5% by Halloween 2020.
For more information about the VeroFORECAST, visit VeroFORECAST.
The quarterly VeroFORECAST reports to clients by subscription and to industry media in a summary overview. The report is a projected increase 12-months forward. The current report is based on data from 344 Metropolitan Statistical Areas (MSAs) that include 13,801 zip codes, 1,002 counties, and represent 82% of U.S. residents.
Source: Veros Real Estate Solutions
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About Veros Real Estate Solutions
A mortgage technology innovator since 2001, Veros is a proven leader in enterprise risk management and collateral valuation services. The firm combines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that control risk and increase profits throughout the mortgage industry, from loan origination to servicing and securitization. Veros’ services include automated valuation, fraud and risk detection; portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is the primary architect and technology provider of the GSEs’ Uniform Collateral Data Portal® (UCDP). Veros also works closely with the FHA to support its Electronic Appraisal Delivery (EAD) portal. For more information, visit www.veros.com or call 866-458-3767.