| Replace the national map below to map falling prices locally and protect homebuyers in overvalued housing markets (see maps of Boston and previous price corrections) |
| Create your own local map | Publish national map on your site | Request wiki access |
What's happening in this local housing market? Help coauthor a quick summary here:
Sales trend:
Price trend:
Inventory:
Edison, NJ has a 53.6% chance of a decline in home prices over the next two years according to PMI Mortgage Insurance Co., one of 13 markets nationwide that "face a 50% or greater risk" of decline.
$349,000 median sales price
33.0% overvalued
Just below the 34.4% threshold to be 1 of 71 "Extremely overvalued"
Source: Overvalued Housing Market? Depends Where You Live
Where are prices falling in the market?
Price decline: 14%
Duration: 3.75 years (15 quarters)
Period: 1988Q2-1991Q4
Overvaluation prior to price correction: 36%
Valuation peak: 1987Q3
US News & World Report: Housing bubble correction could be severe
Where did prices fall in the last price correction?
Please add