| 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:
Los Angeles-Long Beach-Glendale, CA has a 57.5% 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.
$499,300 median sales price
61.3% overvalued
Classification: One of 71 "Extremely overvalued" housing markets nationwide
Source: Overvalued Housing Market? Depends Where You Live
Where are prices falling in the current market?
Price decline: 18%
Duration: 5 years (20 quarters)
Period: 1991Q4-1996Q3
Overvaluation prior to price correction: 23%
Valuation peak: 1989Q3
US News & World Report: Housing bubble correction could be severe
Where did prices fall in the last price correction?
Southern California Real Estate Bubble Crash