Report: Midstate metro areas near bottom of real estate recovery
Midstate metropolitan areas don't fare so well on the first-ever Housing Market Recovery Index, released today by California-based RealtyTrac Inc.
The index ranks the top 100 metro markets in the country. That list includes Harrisburg-Carlisle, Lancaster County and York-Hanover.
The latter two were near the bottom at No. 86 and No. 90, respectively, while Harrisburg-Carlisle ended up at No. 45.
RealtyTrac created the index based on seven factors relating to the health of the real estate market: unemployment rate; underwater loans percentage; foreclosure activity percent change from peak; distressed sales percent of total sales; institutional investors share of total sales; cash purchases share of total sales; and median-home price percent change from bottom.
The top spot for strongest signs of recovery went to Rochester, N.Y. Pittsburgh was No. 17, while the Allentown-Bethlehem-Easton area was No. 99, followed by Baltimore, Md.
The full list is available here.