Categories: Real Estate, Mortgage, Housing

As mortgage rates reach new heights, what does it mean for the value of real estate? Depending on where a homeowner resides, a housing market analysis released by the Global Insight and National City contends that certain markets are "extremely overvalued." The study evaluated population, median income, median sales prices and historic values.

Out of the 20 overvalued real estate markets, both Florida and California accounted for the top 17. In Naples, Florida economists considered the homes to be overvalued by 102 percent. Here is a list of other real estate markets mired in overvalue:

• Ben Oregon
• Los Angeles, California
• Madera, California
• Merced, California
• Miami, California
• Naples, Florida
• Nassau County, New York
• Phoenix, Arizona
• Port St. Lucia, Florida
• Punta Gorda, Florida
• Riverside, California
• Salinas, California
• San Jose, California
• Santa Barbara, California
• Stockton, California
• Suffolk County, New York

But not all real estate markets are overvalued. In fact, large cities such as New Orleans, Louisiana, Dallas and Fort Worth Texas are undervalued.

Copyright  2006 fruitionMedia.net

        

 

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