North Dakota recognized for healthiest housing market in nation

Despite an overall fragile housing market, there are a number of local marketplaces that continue to outperform national averages.

Despite an overall fragile housing market, there are a number of local marketplaces that continue to outperform national averages.

According to a recent report from LendingTree, some state markets that never experienced inflated home prices at the peak of the housing boom now account for some of the healthiest averages throughout the nation. Specifically, North Dakota was recognized for its success.

The factors used by the company to determine how well a local housing market is performing include debt-to-income ratio, unemployment rate, home ownership and vacancy rates, percentage past-due on mortgage payments, foreclosure rates loan-to-value ratio and equity.

In contrast, the report recognized a number of states for having weak averages in these key areas.

"Many people are familiar with the housing market collapse in states like Nevada, but through our analysis of negative equity, we see other areas such as Louisiana and even Kentucky as at risk, even though they have not yet made headlines," said LendingTree chief economist Cameron Findlay. "These are states we are keeping a close eye on."

However, the most recent Standard & Poor's/Experian Credit Default Indices found that consumer finances are improving across the country, which could provide more safety and soundness for consumers when qualifying for a home loan.



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