Bloomberg Businessweek

According Yahoo! Real Estate | Bloomberg Businessweek “A housing market rebound seems tenuous following the expiration of the home buyer tax credit, and consumer confidence remains weak due to lackluster employment, but David Stiff, chief economist at Fiserv, says the bottom is near. Other leading growth markets: Bend, Ore., where prices are expected to jump 33.6 percent by 2014 …

Celia Chen, a senior director of housing economics at Moody’s, recently told SmartMoney.com that such states as Washington, Oregon, New Mexico, and Utah—where supply and demand are now in balance—are most likely to be undersupplied by mid-2012.

#1 Bend, Oregon
Annualized growth from 2011 – 2016: +11.9%
Home prices in Bend are 45.2% off their peak in Q1 2007, which could make it good time to invest. Bend’s median family income is close to the national average of $61,600, but unemployment is high at 12.6%.

Data provided by Fiserv Case Shiller Indexes