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Forbes: America's Most Stable Housing Markets; October 10th, 2007 Cincinnati, Ohio
Median home price: $146,200
Annual price change from 2006: -1.9%
Projected price change to 2008: 2.65%
That Cincinnati performed so well in our calculations is truly a
sign of the times. The market has been feeling subprime fallout over
the past year, but as it didn't grow much during the boom, it doesn't
have too far to fall. Delinquency rates are expected to be in the
middle of the pack nationally, but the signs for an accelerating sales
rate suggest that the market's inventory problems might soon be
resolved. Cincinnati Enquirer: Retail Keeps on Building; January 10th, 2008 Despite fears of a possible recession caused by troubles in subprime
lending markets, soaring energy costs and a declining housing market,
Greater Cincinnati's real estate market remained solid in 2007,
according to Colliers Turley Martin Tucker. On Wednesday, the
real estate services firm's Cincinnati division hosted more than 400
area professionals at the Aronoff Center for the Arts downtown,
delivering its 2007 market recap and economic outlook for the New Year.
While
much of 2007 was marked by concern over the shakeout from problems in
the subprime loan markets, the fears did little to stop major
investment across Greater Cincinnati.The region's suburban market experienced a boom in new retail and
commercial construction, ending the year with nearly 800,000 square
feet of leased office space, compared to 552,000 in 2006. Vacancy rates
shrank from 20.1 percent in 2006 to 18.7 percent last year, CTMT
reported. During 2008, nearly one million square feet of office space is expected to be completed. Much of the development is taking place along the I-71 corridor, including: A 249,900-square-foot office building under way by Corporex for the regional headquarters of Humana near Eden Park. The 62,000-square-foot Keystone Park I office building under construction by Neyer Properties at Dana Avenue in Evanston. The five-story, 160,000-square-foot Redstone office building in Kenwood. Meanwhile,
downtown is poised for significant changes as plans for The Banks move
forward and work gets under way on Western & Southern Group's
40-story Great American Insurance Building at Queen City Square. American
Financial Group has pre-leased 530,000 square feet of the
825,000-square-foot office tower to be built between Third and Fourth
streets on the east side of Sycamore Street. Also planned for the
tower are 25,000 square feet of ground-level retail and 1,400 parking
spaces. Construction is expected to begin mid-year with a target for
completion by 2011. "This will be the start of a major change in
the Cincinnati skyline and the (Central Business District) office
market," CTMT's annual report stated.
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