#1 - Salt Lake City, Utah. Builders simply built too many houses!
#2 - Raleigh, North Carolina. Again, builders built ahead of the growing spurt. The economy is picking up so take advantage of the deals while they are available!
#3 - Orlando, Florida. It's a great time to take advantage of the "buyers market" in Florida. Orlando has so many houses on the market that you can pick and choose and deal to your hearts content.
#4 - Charlotte, North Carolina. The financial industry continues to move to Charlotte. This is adding jobs to the area but not quick enough to keep up with the unsold homes.
#5 - Phoenix, Arizona. This city has a high foreclosure rate.
Source; Matt Woolsey from Forbes February 2008
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