CBS Moneywatch released details of a study of US metropolitan areas with the biggest gains in home value appreciation, and Gainesville-Hall County ranked a strong second among all metro areas. Data for the study was gathered from Zillow.com and measured the percentage gain or loss in year-over-year home values through the end of the fourth quarter 2010.
The biggest winners with the highest year-over-year home value gain include:
(1) Ann Arbor, MI (Gain: 11.3%)
(2) Gainesville, GA (Gain: 8.4%)
(3) Honolulu, HI (Gain: 4%)
(4) Madera, CA (Gain: 3.8%)
5) Merced, CA (Gain: 2.6%).
The CBS Moneywatch study followed recent data compiled by the Norton Agency that Hall County outperformed the US, Georgia and all our neighboring counties with a 9.7% increase in the number of single family home sales from 2009 to 2010.
Gainesville Mayor Ruth Bruner said today she is pleased and encouraged by the report, "This is excellent news for our real estate market. This article confirms that Gainesville is not experiencing the same plummeting values as so many other cities around the country. Hopefully, as people see the report, they will want to know more about our city," Bruner said.
Increasing home sales and home value appreciation are positive indicators of other economic activity to come. "The growth in Hall County home sales and appreciation are bellwether indicators for retailers and restaurants that follow rooftops," said Tim Evans, Vice President of Economic Development for the Greater Hall Chamber of Commerce. "It affirms that Hall County is a long-term growth market that will support additional retail and services for this growing community as well as the region. This growth is all the more remarkable because it was achieved despite a challenging US housing market," Evans said.
Biggest Losers and Winners: Where Home Values Are Rising and Falling CBSMoneyWatch.com
For information: Tim Evans, VP Economic Development, Greater Hall Chamber, 770-532-6206 or firstname.lastname@example.org.