Brookings Institution: MetroMonitor
The Brookings Institution's MetroMonitor named Albany, New York; Augusta, Georgia-South Carolina; Austin, Texas; Baton Rouge; Buffalo, New York; and Dallas the top five overall best performing metros.
• Housing was substantially underpriced in 41 of 94 large metro areas, and overpriced in 23 of those areas. Metros with underpriced housing included Boise, Idaho; Cape Coral, Florida; Fresno, California; and Las Vegas. Housing was overpriced in Los Angeles and Bakersfield, California; Jacksonville and Tampa, Florida; and Allentown, Pennsylvania. Foreclosures continued to rise in most studied metro areas.
• For the first time since the recession began, most metro areas, 83 in total, experienced job growth. But only 10 metros regained more than a quarter of jobs lost between pre-recession highs and post-recession lows. They included Augusta, Georgia; Charleston, South Carolina; El Paso and McAllen, Texas; and Honolulu.
• Manufacturing job growth strengthened overall job expansions in most metros, especially in the Midwest. Ogden, Utah; Portland, Maine; Riverside and Sacramento, California; and Portland, Oregon all benefited from manufacturing growth.
Overall, the five top performing metros were Albany, New York; Augusta, Georgia-South Carolina; Austin, Texas; Baton Rouge; Buffalo, New York; and Dallas. The five overall worst performing metros were Boise City, Idaho; Cape Coral, Florida; Detroit; Fresno, California; and Jacksonville, Florida.
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