Overvalued Markets Hardest Hit by Collapse of Housing Bubble
Market Nears Stabilizing after Roller Coaster Ride
Fourth Quarter 2009
Most Overvalued, Most Undervalued of the 330 Largest U.S. Metro Areas Examined
The updated quarterly study House Prices in America, using IHS Global Insight's extensive proprietary databases on the housing market, which includes data and forecasts for home prices, home sales, housing stock, and household income, examines current and expected housing prices and valuation in the 330 largest U.S. metropolitan areas.
Study findings for the fourth quarter of 2009 show that house prices in the U.S. fell by only 0.1 percent quarter-to-quarter and are close to achieving stabilization. Despite economic conditions that remain dire and an unemployment rate that remains stubbornly high, stability in home prices is a good thing when compared with the wild peak-to-trough ride experienced by many of the nation's housing markets.
At quarter end, no metro areas were extremely overvalued and, in fact, for the nation as a whole, the housing market is now slightly undervalued.
Full Study: House Prices in America—Q4 2009
Full Data Set—Q4 2009 (Registration Required)
Press Release—Q4 2009
U.S. Regional Real Estate Service
For more information contact:
Group Managing Director, IHS Global Insight Regional Services
Senior Economist, Manager of IHS Global Insight Real Estate Service