Turnaround Towns: Top 10 Cities of the Housing Market Recovery



With an average of 1.8 million homes on the market on any given day in the second quarter of 2013, home list prices are rising in major metro markets around the nation as housing inventory continues shrinking, but the city of Detroit, which filed for bankruptcy last month, is that one surprising dark horse among the Top 10 of Realtor.com's Turnaround Towns Report.

With a median list price up by 37.8 percent, Detroit is second only to Oakland, Calif., where the median list price rose 41.3 percent. And in Detroit, the rate as which homes in this category are selling beats out every single town east of the Rockies.

"Detroit has made remarkable progress in the last year, shrinking its inventory of unsold homes by more than 26 percent and becoming one of the most balanced markets in the nation," said Steve Berkowitz, CEO of Move, which operates Realtor.com.

However, despite it's progress, Detroit ranks No. 7 overall on this list of the top turnaround towns. See if you can guess which towns made up the other nine, and then test your answers against the slideshow below. Hint: No town in Florida made the list this quarter.

TOP 10 TURNAROUND TOWNS:

More about hot housing markets:
Today's Housing Market Is Extra-Tough for First-Time Homebuyers
Top 10 Turnaround Towns of 2012's Second Quarter

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