Most Overvalued Housing Markets In America

[WHITT]

A new report from researchers at Florida Atlantic University and Florida International University examined which housing markets nationwide are most overvalued. Using third-party data, the researchers calculated the average property price in each of the 100 largest housing markets nationwide, and compared the fluctuations in prices with what would be expected based on their historic growth. Based on that comparison, they determine how over or undervalued a market is.


Market ............... Overvalued Premium

Boise, Idaho ....... 76.4%

Austin, Texas ...... 62.3%

Ogden, Utah ....... 59.2%

Las Vegas ........... 53.7%

Atlanta ............... 52.3%

Provo, Utah ......... 52.2%

Phoenix .............. 52.0%

Spokane, Wash .... 51.4%

Salt Lake City ...... 49.7%

Detroit ................ 48.3%

https://www.marketwatch.com/story/wealth-creation-through-housing-is-not-guaranteed-behold-the-most-overvalued-housing-markets-in-america-11645667413

[drmeow]

1. Really wishing I was selling my house in Tempe now

instead of 3 years ago

[vsrazdem]

2. I'm in Phoenix and not going anywhere, but I am getting tired of the phone calls

every day from random realtors asking me if I will sell my house. Crazy.

[Coventina]

6. It never ends: letters, postcards, phone calls, texts....

It's beyond harassment at this point....

[doc03]

3. Here in Ohio my home is worth less than half its replacement cost. A friend of mine sold

his home in Ohio and moved to Florida after one year he sold it for a $100000 profit and
moved back here.

[SYFROYH]

4. Detroit is overvalued by 48%???

Im not sure i understand the definition of overvalued?

[WHITT]

8. HEH

You have to read the fine print. It's relative to historic values and historic increases in value. Remember where Detroit was.

[Laura PourMeADrink]

14. Exactly. Point of reference means everything. Just like when they

Compare to 2020, when the pandemic shut it all down. Corporate growth #s compared to that point in time very misleading.

[bif]

10. You can get a lot of home in Detroit

For not a whole lot of money.

[tinrobot]

5. Interesting that California cities escaped the list.

Houses here can get stupidly expensive. But perhaps not "overvalued"

[Laura PourMeADrink]

7. Is there an undervalued list :). Funny but there was a

Period of indecision when the pandemic started and people were anxious to sell and get out. Long gone.

[ProfessorGAC]

11. There's Cities In The Article

Houston & New York were on there. Don't remember the 3rd.
They didn't have negative premiums, but the % was very low. I think they were all under 2%.

[Laura PourMeADrink]

13. Not mentioned, but my friend in Boston said they barely

Feel a blip when something big happens. Market psf so high normally.


While there was no market nationwide that was undervalued based on these metric, the places where home buyers will pay the smallest premium to lock up a property are Honolulu (0.5%), Baltimore (0.7%) and New York (1.7%).

[JoanofArgh]

9. I'm surprised Charlotte isn't on there. Charlotte is second only to Atlanta in investors

purchasing groups of houses and running up the prices on them.

[bucolic_frolic]

12. Sticks and stones and labor

All else is fluff. Like stocks, think intrinsic value.