The economy may be witnessing a slow recovery in the U.S., but the housing sector is experiencing an upward surge in the country. In November, sales of houses recorded a 5.9 percent increase to an annual rate of 5.04 million, which was the highest since 2009.
Trulia, a real estate listing website listed the cities with the most prosperous real estate market in the coming year. The cities were ranked based on solid job growth, lower rate of vacancies that would encourage new constructions without limiting inventory and sales and lower foreclosure inventory, reported Market Watch.
The list of the most prosperous markets for real estate in 2013 is as follows:
1. Houston, Texas: The fourth-largest American city topped the most prosperous real estate markets' list as projections of better job growth and creations were the highest in the city.
2. San Francisco, California: The Californian city- county, San Francisco, came in second for the same parameters that put Houston in the first position - Job Growth.
3. Bethesda-Rockville-Frederick, Maryland: The city's metropolitan area, which is located just outside Washington D.C, recorded a very low inventory foreclosure rate that puts the city in the third position.
4. San Antonio, Texas: Military base city, San Antonio finished fourth in the list with manageable rate of vacancies. The city also recorded very meek price slumps during the housing crisis, which gave it an added advantage to make it to the list.
5. Austin, Texas: Austin is also believed to have a good job growth rate and more jobs are expected in the city, earning it the fifth position in the most prosperous list.
