December 30, 2005

The long way down: Most overvalued housing markets


Latest analysis of 299 markets: See how your hometown ranks.

Sixty-five of the nation's 299 biggest real estate markets are severely overpriced and subject to possible price corrections.


Naples, FL
+84%
Merced, CA
+77%
Salinas, CA
+75%
Port St. Lucie, FL
+72%
Stockton, CA
+72%
Madera, CA
+70%
Santa Barbara, CA
+70%
Modesto, CA
+67%
Napa, CA
+65%
Riverside, CA
+65%
Medford, OR
+64%
Sacramento, CA
+61%
Atlantic City, NJ
+59%
Chico, CA
+59%
Fresno, CA
+58%
West Palm Beach, FL
+57%
Redding, CA
+56%
Santa Rosa, CA
+56%
Bend, OR
+56%
Sarasota, FL
+56%
Miami, FL
+55%
Oxnard, CA
+55%
Vero Beach, FL
+54%
Los Angeles, CA
+54%
Fort Lauderdale, FL
+53%
Vallejo, CA
+53%
San Luis Obispo, CA
+53%
Cape Coral, FL
+52%
Bakersfield, CA
+51%
Palm Bay, FL
+49%
Barnstable Town, MA
+48%
Oakland, CA
+47%
Ocean City, NJ
+47%
Prescott, AZ
+46%
Panama City, FL
+46%
San Diego, CA
+46%
Visalia, CA
+45%
San Jose, CA
+44%
Deltona, FL
+44%
Santa Cruz, CA
+44%
Santa Ana, CA
+44%
Bellingham, WA
+43%
Fort Walton Beach, FL
+43%
Nassau-Suffolk, NY
+43%
Poughkeepsie, NY
+39%
Reno, NV
+38%
Las Vegas, NV
+38%
Kingston, NY
+38%
Washington, DC-VA-MD-WV
+37%
Bethesda, MD
+36%
Providence, RI-MA
+35%
San Francisco, CA
+35%
St. George, UT
+35%
Ocala, FL
+35%
Phoenix, AZ
+35%
Portland, OR-WA
+35%

30 comments:

skytrekker said...

My metro area of Hartford CT is only 4% over valued on that list- while Providence Rhode Island- a mere 60 miles to the east is over 30%- interesting.

chris said...

I would like any info that supports the Portland, OR market being 35% overvalued. I bought a 2100 sq ft house withing the urban growth boundary a remodeled 1923 bungalo 4 bed 2 bath 2 car garage and basement for 222K and a 1996 built duplex which is 1800 sq ft each unit 900 sq ft 2 bed 1 bath units for 239K.
Because I sold my (oceanside)north san diego county property which tripled since 1999 I was able to roll the profits into these. Should I sell the duplex in 2006 or hang on?

Philip John said...

Chris

sounds like you already made the smart move by selling your San Diego property. Personally, I'd hang on.

:)

Phil

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Check this blog:

http://overvalued.blogspot.com

it charts the extent to which real estate prices in individual cities have overshot their long run trend growth. It also estimates how far they must decline in order to return to trend.

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