Housing Market Forecast: Recovery's Hot, Cold Spots

Everyone wants to know how quickly their house price will recover, now that we appear to be at or near the bottom of house prices. New data suggests that U.S. house prices will go up an average of 3.1 percent a year between now and 2020 -- but not everywhere.

Moody's Analytics came to the conclusion using data regarding house prices, income growth, and trends in employment and population. Its data also sheds light on what are expected to be the hottest and coolest housing markets.

Las Vegas is expected to exceed that recovery by almost 2 percent a year with a predicted growth rate of 5.04 percent. But Miami, another hard-hit market, will continue to see a price drop through 2012, when it's expected to hit bottom. After hitting bottom, it will only recover at the rate of 1.13 percent per year through 2020, Celia Chen, Senior Director of Moody's Economy.com, told HousingWatch. So if you're thinking about real estate speculation, stay away from Miami.

The five markets that Moody's predicts will see the fastest appreciation between now and 2020 include: Las Vegas (up 5.04 percent per year); Tacoma, Wash. (up 4.96 percent per year); Albuquerque (up 4.86 percent per year); Eugene, Ore. (up 4.59 percent year); and Toledo (up 4.45 percent per year).