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Upstate NY tops the list of

1/9/2009

It's the same story for McAllen, Texas, Syracuse, N.Y., Pittsburgh,Buffalo, N.Y., and El Paso, Texas. They top the list of the country's strongest real estate markets, in part because, like Little Rock, "none ... participated in the housing boom," says Mark Zandi, chief economist for Moody's Economy.com. "Some are down just because the economy is bad."

Behind the Numbers
To compile this list, we asked Moody's Economy.com to compile a list of the country's real estate markets that are nearest to recovery. Moody's looked at the country's Census-defined metro areas--including metropolitan and micropolitan statistical areas--with populations over 500,000, and prepared forecasts through 2011. They then compared them to prices in the second quarter of 2008, which are the latest figures available, to calculate how far prices will likely fall before reaching bottom.

*Article courtesy of Forbes.com*

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