The Nation’s 10 Most Overvalued Housing Markets Face A New Real Estate World

Mortgage rates are nearly three-fourths of a percent higher than they were a year ago, and home prices rose nationwide by 18.8% annually in December, making it harder than ever to find an affordable place to live. But in some cities, it’s a lot harder to find a home than others. Florida Atlantic University and Florida International University have once more ranked the nation’s most overvalued homes, and while Boise continues to top the list, two cities have seen notable leaps in the past two months.

Las Vegas, which was seventh on the list in December, has moved up to the No. 4 spot, as premiums in Sin City have jumped another 6%. Atlanta, meanwhile, jumped from 10th place to fifth, with a 7% increase in housing price premiums.

The study uses open-source data from Zillow and other providers to determine the estimated value of homes and compares that to expected sales prices. And the difference can be striking.

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Source: Fortune