Top Five Housing 'Bubble' Cities

Posted by: Abhijeet Chavan
Thanks to: Abhijeet Chavan

1 July 2002 - 8:00am

A new index called the The Housing Cycle Barometer identifies metropolitan areas with overpriced housing markets.

"[The] Housing Cycle Barometer [index] shows that 17 metropolitan areas are currently overpriced, while 24 areas are not. Home prices have appreciated to levels that cannot be sustained in the San Francisco Bay area, San Diego and Denver, to name a few. Conditions are drastically different in Las Vegas, Riverside-San Bernardino, Calif., and Dallas, where historically low mortgage rates have more than offset price increases to create some of the best home buying conditions in the past 21 years. Homes are fairly priced in Los Angeles, Sacramento, Calif., and Phoenix."

Full Story: The Housing Cycle Barometer

Source: Housing Zone, July 1, 2002