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Nation's Housing Price Decline Moderates; Market Nears BottomFirst Quarter 2009 Most Overvalued, Most Undervalued of the 330 Largest U.S. Metro Areas Examined The updated quarterly study, House Prices in America, using IHS Global Insight's extensive proprietary databases on the housing market, including data and forecasts for home prices, home sales, housing stock, and household income, examines current and expected housing prices in the 330 largest U.S. metropolitan areas. Study findings for the first quarter of 2009 show that the depreciation of housing prices continued coast to coast, although the rate of decline had slowed dramatically, signaling perhaps that the market at last was beginning to stabilize. The study also shows that the carnage brought about by the bursting of the housing bubble in once-overvalued areas in California and Florida was severe, with prices falling more than 50% from their peaks. In the other extreme, southern metro areas, particularly in Texas, have remained consistently undervalued. As was the case in Q4 2008, only one housing market – Atlantic City, N.J. – remains extremely overvalued, down from a peak in 2005 of 52. Free Offerings: Full Study: House Prices in America - Q1 2009  Press Release - Q1 2009 More Details: U.S. Regional Real Estate Service For more information contact: James Diffley Group Managing Director, IHS Global Insight Regional Services +1 610.490.2642 james.diffley@ihsglobalinsight.com Jeannine Cataldi Senior Economist, Manager of IHS Global Insight Real Estate Service +1 610.490.2650 jeannine.cataldi@ihsglobalinsight.com |
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