Boise, ID

The 15 Cities in America with the Most Overvalued Home Prices

Daniella Cressman

It's no secret that real estate prices are through the roof at this point, but what you might not know is that certain homebuyers are actually paying premiums of 60% or more.

https://img.particlenews.com/image.php?url=2L1cgz_0gAFNcix00
PlumePloume

"A recent analysis from Florida Atlantic University and Florida International University identified the most overvalued housing markets in the country. The top finding? Buyers in the most overvalued market — Boise, Idaho — are paying an eye-watering premium of 73%, largely thanks to the recent boom in remote work. The researchers found that historical price data suggests homes in Boise should cost $299,202 on average. Instead, the typical buyer is forking over $516,548 — roughly $217,000 more than they quote-unquote should." —Sarah Hansen

The experts used data from Zillow and other marketplaces to conduct their research.

"The experts used data from real estate marketplace Zillow and other sources to determine the difference between the expected price of an average home in a given city based on historical trends and the prices buyers are actually paying. The difference between those two prices is what the researchers termed the premium associated with each housing market." —Sarah Hansen

If you do have the money to purchase a home right now, you'll want to make sure you're not spending more than you quote-unqoute should be. Here are the 15 cities with the most overvalued real estate prices, according to Sarah Hansen:

  1. Boise City, Idaho: 73%
  2. Austin, Texas: 68%
  3. Ogden, Utah: 65%
  4. Las Vegas, Nevada: 61%
  5. Atlanta, Georgia: 58%
  6. Phoenix, Arizona: 58%
  7. Provo, Utah: 57%
  8. Fort Myers, Florida: 56%
  9. Spokane, Washington: 56%
  10. Salt Lake City, Utah: 56%
  11. Charlotte, North Carolina: 55%
  12. Lakeland, Florida: 53%
  13. Tampa, Florida: 52%
  14. Raleigh, North Carolina: 51%
  15. Detroit, Michigan: 51%

Now you know.

Comments / 0

Published by

Canadian-American author writing about local politics, personal finance, & dining in Albuquerque.

Albuquerque, NM
4415 followers

More from Daniella Cressman

Comments / 0