Half of All Homes in the Biggest Housing Markets are Now Overvalued
May 7, 2018
Recent data from CoreLogic and the National Association of Realtors reports half of the nation’s 50 largest markets are now considered overvalued. The latest data saw home values increasing in every one of the 50 states, and prices are now higher than they were at the peak of the housing boom, although the data does not account for inflation.
San Francisco, Los Angeles, Denver, Las Vegas, Miami, Houston and Washington, D.C., are now considered overvalued according to CoreLogic.
There is new data showing people are now leaving California due to sky-high home prices. Migration estimates compiled by realtor.com show 16 of California’s most popular counties are losing residents.
Last year also marked the first time outbound move requests outnumbered inbound to the state of California since Atlas Van Lines began tracking in 2008.