Chris Gmyr

We all know that the housing market has been suffering across the country for a long time now. We have heard it on the news, on the internet, in the newspaper and we have seen it for ourselves as well. We have heard about the ups and downs and the hope for the New Year. Well, now there are some new cities being hit by the housing crisis that may not have been touched before. Some new places that real estate agents, home buyers, and home sellers need to watch out for include:

Money Cities
Cities that contribute much of their income to financial services are now being hit by the housing market. It has affected Charlotte, NC, which is the headquarters of Bank of America and other financial institutions. Another city feeling the housing market crisis is San Francisco where the housing prices are among the highest in the whole country.

Resort Areas
Travel destinations and resort areas are also feeling the effects of the housing market. This means that expensive second or vacation homes are not doing or expected to do very well. One destination is Napa Valley, CA were housing prices are being to drop now more than before over the last few years. Places such as Denver, Dallas, and Austin are not doing as bad yet, but their housing markets should be carefully watched for sudden changes.

This does not mean the housing market is forever doomed and that real estate agents, home sellers, and buyers should just give up. This just means that is now more important than ever to watch markets as closely as possible and to put in all the effort you can to improve housing markets in your areas and in others as well.