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CNN Money: Albuquerque Market Judged “Just Right”
Posted on Jan 28th, 2010
The report named Naples, Florida as the most overvalued of all housing markets in the United States. A single-family, median-priced home there sells for $329,970, 84 percent more than what it should cost -- $180,956 -- according to the analysis.National City arrives at its estimates of what the typical house in these markets should cost by examining the town's population densities, local interest rates, and income levels. It also factors in historical premiums and discounts for each area. Other markets deemed wildly overpriced included Merced, California (by 77 percent), Salinas, California (75 percent), and Port St. Lucie, Florida (72 percent).
(Click on the link below to see the full CNN Money list.)
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Comments (1)
This article was published originally in January of 2006. It would be helpful to see an updated study.
on Jan 29, 2010 at 6:57 pm
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