The Real Deal New York

America’s most overvalued and undervalued housing markets

Tri-State area's Hartford, New Haven markets among locales with most undervalued homes

March 25, 2014 04:50PM
By Business Insider

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We got a ton of housing data this morning.

In his preview, Trulia chief economist Jed Kolko lists the most overvalued and undervalued housing markets, which is a measure of current price levels against fundamentals like incomes, rents, and historical price paths.

Here are the markets getting close to overheating:

Note: Positive numbers indicate overvalued prices; negative numbers indicate undervalued, among the 100 largest metros.

Note: Positive numbers indicate overvalued prices; negative numbers indicate undervalued, among the 100 largest metros. (Trulia)

And here are those underperforming. Detroit and Chicago both had double-digit price gains last year. Detroit, of course, remains mired in the largest municipal bankruptcy case in U.S. history.

Note: Positive numbers indicate overvalued prices; negative numbers indicate undervalued, among the 100 largest metros. (Trulia)

And for good measure, here’s their bubble chart for the 100 largest metros. Starting to creep higher.

Note:

(Trulia)

  • Caligula

    I’m not sure who in their right mind would want to live in Hartford. You might get a dilapidated house on the cheap, sure, but the city’s a crime-riddled dump.

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