There may finally have been a break in the housing market, according to research out of Florida Atlantic University and Florida International University.
"Each month since last summer, researchers … have ranked the most overvalued housing markets by analyzing their premiums—the percentage above the long-term pricing trends that buyers must pay in order to buy a property," a press release said. As might be expected, higher premiums have meant markets being more overpriced.
But there was finally a break last month in 12 markets as premiums took a drop: Los Angeles; San Francisco; Seattle; San Diego; Denver; Pittsburgh; Portland, Oregon; Austin, Texas; Ventura and Stockton, California; Boise, Idaho; and Ogden, Utah.
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