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24/7 Wall St.: The 10 States with the Strongest Housing Markets

4. South Dakota

1 yr. home price change: +8.3%
Median home price: $101,700
Unemployment rate: 4.4% (3rd lowest)

South Dakota, another Plains State, has the same advantage of being home to industries that employ a great many of its residents as its neighbors do. Home prices are 44th among all states. Those prices barely budged when the housing market throughout most of the nation disintegrated. The median price of a home actually rose 3% between the first quarter of 2007 and the first quarter of this year. On that basis, South Dakota ranked second among all states. The improvement in the market is only expected to be mediocre moving forward, and certainly nowhere near the 8.3% home price increase of last year. Home prices are forecast to rise 4.6% from the first quarter of 2013 to the first quarter of 2014. That places it 15th among all states. But the growth rate will moderate considerably for the five years that began in the first quarter of this year. On a per annum basis, home prices are forecast to increase 3.4% during that time — 23rd among all states.

(iStock Photo)

More From 24/7 Wall St.:
America’s 10 Disappearing Jobs
Cities with the Most Homes in Foreclosure
American Cities Adding the Most Jobs

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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