Count a pair of Florida professors among those who are reporting that home prices might have finally peaked in July.
Florida Atlantic University's Ken H. Johnson, Ph.D., and Florida International University's Eli Beracha, Ph.D., each month rank the 100 most overvalued housing markets by analyzing their premiums – the percentage above the long-term pricing trend that consumers must pay in order to buy a property.
In July, they found that premiums declined from June in 27 markets, mostly west of the Mississippi River, and 22 of the 27 also experienced price declines.
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