Top 10 Overpriced Communities in USA (and the Bottom 10)
December 29th, 2005 • Related • Filed Under
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National City Corp has conducted a survey of the most overpriced housing markets in the United States. It looks like parts of Texas have the best buys available, and California and Florida are the communities that are most likely to have a correction.
| 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% |
The 10 markets that are most undervalued include:
| Longview, TX | -11% |
| Odessa, TX | -12% |
| Montgomery, AL | -12% |
| Houston, TX | -14% |
| Fort Worth, TX | -15% |
| Beaumont, TX | -15% |
| Dallas, TX | -16% |
| Killeen, TX | -16% |
| El Paso, TX | -18% |
| College Station, TX | -23% |
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. via CNN
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