Housing Markets ConsideredExtremely Overvalued Decline

Published December 13, 2005, 1:00 a.m. EST

|

Updated August 27, 2020, 2:20 a.m. EDT

1 Min Read

CLEVELAND - (12/13/05) The number of U.S. home marketsconsidered extremely overvalued has declined slightlyas mortgage rates have risen and prices have eased, according toone ongoing study. Sixty-five markets are now considered extremelyovervalued, meaning they have home prices at least 30% above wherethey should be, according to the study done by National City Corp.and Global Insight Corp. Those 65 markets still comprise 38% of thetop 299 markets, down from 67 in the previous quarter. Four marketshave been added to the listHonolulu Orlando, Phoenix andPensacola, Fla.,--while six dropped off--Essex and Worcester,Mass., Jackson and Bay City, Mich., Portland, Maine andCharlottesville, Va.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Housing

Housing bill passes House, goes to Trump's desk

The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.

By Claire Williams
Reporter

10h ago
Deposits

How the housing bill quietly helps out fintech, crypto

Tech companies may be the biggest winners of a custodial deposit provision tucked away in a much-touted bipartisan housing bill set to become law this week.

By Claire Williams
Reporter

10h ago
Regulation and compliance

Deutsche Bank and U.S. Bank agree to settle NYC rent cases

New York State's attorney general has reached settlements with the two banks, which will pay a combined $90,000 in penalties in connection with alleged violations of rent stabilization laws.

By Nathan Place
National Reporter

June 23
Mobile wallets

Loans and phones: Block's post-layoff battle with banks, fintechs

The payment company is expanding the Afterpay buy now/pay later network and offering a Cash App mobile plan as it tries to draw consumers from legacy financial institutions and rival payment firms.

By John Adams
Executive Editor, Payments

June 23
Overdrafts

Overdraft fees take bipartisan heat at affordability hearing

Senators from both parties criticized banks over overdraft fees, though populist Republicans and their more establishment conservative colleagues were split over whether blame for the problem lies with banks conduct or the consumers.

By Ebrima Santos Sanneh
Reporter

June 23
Bank Notes

It's 10 p.m. Do you know where your insurance-company premiums are?

Insurance companies are increasingly shifting their assets into offshore vehicles, where they are being used for…what exactly? We don't know, and that's the problem.

By Paul Vigna
Managing Editor

June 23

Load More