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Unsustainable Home Prices in 14 Metro Areas -CoreLogic
Monday, September 14, 2015
CoreLogic has released figures showing that residential real
estate in 14 of the 100 top real estate markets in the country were overvalued
in the second quarter of 2015, twice the number as in Quarter 1. By overvalued CoreLogic means these markets
have increased well above their long-term sustainable prices as measured by each
area's real disposable per capita income.
The Austin-Round Rock metropolitan area has what is by far
the largest degree of excess valuation as measured by CoreLogic's Home Price
Index - 42.3 percent above its sustainable level and 31.2 percent higher than
at its peak level prior to the 2007 downturn.
Prices in Austin increased 10.4 percent in 2013 and 16.3 percent in
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