Market overview
What's happening in this local housing market? Help coauthor a quick summary here:
Sales trend:
Price trend:
Inventory:
Housing market forecasts:
PMI U.S. Market Risk Index: Summer 2006
San Diego-Carlsbad-San Marcos, CA has a 59.9% 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.
Current market conditions:
Global Insight / National City Crop. Valuation: 2006/Q1
$478,300 median sales price
38.6% 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?
Past housing price corrections:
Price decline: 11%
Duration: 6 years (24 quarters)
Period: 1990Q3-1996Q2
Overvaluation prior to price correction: 17%
Valuation peak: 1989Q4
US News & World Report: Housing bubble correction could be severe
Where did prices fall in the last price correction?
Local bubble blogs:
Professor Piggington
Ideas for this wiki (your comments are welcome)
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