Worst 25 Market Forecast 2007

The Worst 25 Housing Market Forecast in 2007 by Housing Predictor includes housing markets in just 13 states, which is the same number of states represented in the original forecast in January. California’s markets placed more on the list than any other state.

However, the Worst Housing Market in the nation selected is Miami, Florida, which is forecast to fall an average of 12.7% in 2007. More than 15,000 pre-construction condominium reservations have already been cancelled or withdrawn adding to the glut of inventory for sale. The Miami market is in the early phase of a full blown housing recession.

Florida is second to California placing four markets on the list. However, Florida, which slid into its slowdown earlier than many other states is beginning to pull out of its slump in some markets.

Los Angeles, California claims the second position on the Worst 25 list followed by San Diego and Las Vegas, Nevada.

The Worst 25 Markets are composed of mainly urban areas, including their outer lying communities, which are the most dense concentrations of the nation’s population with the highest number of homes.