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A new website which forecasts housing market futures in all 50 U.S. states has been launched, providing local market forecasts for more than 250 housing markets.

The new site, which is Housing Predictor.com was launched after more than two years of exhaustive research and development. The website is the first of its kind to provide real time housing market forecasts for local markets throughout the nation.

The launch represents a break through for consumers, who have long demanded dependable timely information on housing markets in order to better gauge buying and selling patterns in their local markets. More than 80% of all buyers and sellers of real estate now go to the internet first to conduct research.

News organizations typically provide economists forecasts on markets on an irregular basis. Housing Predictor provides regularly updated forecasts on local market conditions in more than 250 markets scattered throughout the U.S.

Web developer Mike Colpitts, who has developed more than two dozen sites produced the website with a staff he assembled. Colpitts background as a former journalist and real estate agent provided the vision to develop the site. The internet developer worked as a newspaper and television journalist before entering real estate sales. However, the call of the rapidly growing internet grabbed his attention as the new source of the information highway.

During more than two years of developing the site a staff of real estate analysts, economists, web design artists, programmers and writers were gathered. A contest to find the best name for the site was held on the internet, offering the winner a grand prize of $5,000.

The site's name describes it best. Housing Predictor forecasts local U.S. housing markets. Median prices representing the midway point of real estate markets, where half of the homes sell for more and half for less are provided for each local market.

Housing Predictor has been met with immediate acceptance. Data reports indicate hundreds of new visitors viewing the site within days of its launch and the number of visitors increasing daily. The new site provides a state by state breakdown of local markets with reports on each states markets.

Forecasts are provided through an exhaustive analysis of information collected, including regional economic and political influences. Real estate markets unlike the stock market and other business markets are driven by local market influences and the emotional tendencies of home buyers and sellers.

Housing Predictor also features a search engine devoted to real estate. The site has an easy to follow format, providing summaries of each states markets and a break down for each state highlighted as 'Markets At A Glance.'

Housing Predictor will also be adding interactive features, allowing visitors to ask a real estate expert questions live through cutting edge technology.

The site also includes the Top 25 Forecasts for housing markets in 2007, and will soon release its Worst 25 Markets Forecast in the U.S. for 2007. Housing Predictor also features tips on buying and selling real estate and the latest information on how to obtain the best home mortgage or refinance.