Housing recovery to be uneven - study

|By:, SA News Editor

The housing market will probably rebound over a five-year period, a new study predicts, but the recovery will be uneven.

The report, which was compiled by the Demand Institute think-tank, projected that in 50 large metropolitan areas, prices will rise in the top five regions by an average of 32% from 2012-2018 but only by 11% in the bottom five.

Cities that are expected to experience the biggest increases in the median price of previously owned single-family homes are Memphis, Tampa, Jacksonville, Milwaukee and St. Louis. The cities where growth will be slowest are Washington DC, Oklahoma City, Denver, Minneapolis and Phoenix.