Around 48% of the US's 100 largest housing markets are overvalued, according to data analysis firm CoreLogic's Market Condition Indicators report. Home prices were judged to be at least 10% higher than is sustainable over the long term. Roughly 36% of the country's 50 biggest cities had overvalued housing stock in September 2017, according to the report, while 28% were undervalued, and 36% were accurate. The overvaluation could cause issues later, according to CEO of CoreLogic, Frank Martell, with the company predicting a 4.7% increase in home prices between September 2017 and September 2018, driven by low stock availability.
Around 48% of the US's 50 largest housing markets are overvalued, according to data analysis firm CoreLogic's Market Condition Indicators report. Home prices were judged to be at least 10% higher than is sustainable over the long term. Roughly 36% of the country's 100 biggest cities had overvalued housing stock in September 2017, according to the report, while 28% were undervalued, and 36% were accurate. The overvaluation could cause issues later, according to CEO of CoreLogic, Frank Martell, with the company predicting a 4.7% increase in home prices between September 2017 and September 2018, driven by low stock availability.