Providence named #8 best city for home sellers

owen

Forbes recently reported Providence as the #8 best city to be a home seller in:

http://www.forbes.com/2008/04/...

From the article:

"Forbes looked at the country's largest metro areas and assessed how friendly conditions are expected to be for sellers this year. Each city was ranked by its 2007 unsold vacancy rate, calculated by the U.S. Census American Housing Survey, and how much the market had tightened or loosened when compared with 2006 conditions. Then they looked at construction starts, job creation and the degree to which new conforming loan limits from Freddie Mac and Fannie Mae will improve each market's lending conditions.

8. Providence, R.I.

Though prices here are falling, vacancy rates are extremely low and falling further (dropping to 1.6% at the end of 2007, the sixth lowest rate in the nation, from 1.8% at the end of 2006). Combine that with a 42% cut in inventory, and you're looking at a market that may slump due to job loss (1% this year) but isn't going to turn into a buyers' market anytime soon."

Go Providence!

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Comments

JackTemplin

JackTemplin

Causal relationship?

Owen. here's some more news which I bet has something of a causal relationship with your news. 

"Providence - Top 25 Arts Destination for 4th Consecutive Year "

And this year, we moved up 2 places.