Markets That Are Doing Just Fine, Thanks

Daily Real Estate News May 2, 2008

Some cities aren’t feeling the pain of falling home prices or rising unemployment. Despite the national slowdown, they're doing just fine.To identify the economically healthiest cities, Forbes magazine examined key measures in the country’s 50 largest metros. The magazine studied unemployment and job-growth data from the Bureau of Labor Statistics, home price data from the NATIONAL ASSOCIATION REALTORS®, and information on gross metropolitan product growth provided by the U.S. Conference of Mayors.
Here are the 10 cities that Forbes sees as practically recession-proof, along with the percentage of growth for median-priced homes in the past year.
Oklahoma City, Okla. Median home price: +8.2 percent
San Antonio, Texas +7.9 percent
Austin, Texas +6.4 percent
San Jose, Calif. +11.2 percent
Raleigh, N.C. +4 percentSalt Lake City +2.5 percent
Houston +1.1 percent
Seattle +1.2 percent
Charlotte, N.C. +3.3 percent
Dallas-Fort Worth +.5 percent

Source: Forbes, Matt Woolsey (04/29/2008)