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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 2014.

 

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