Tuesday, June 27, 2006

Sacramento Breaks into PMI's Top Five Highest Risk Markets for the First Time

PMI Press Release (pdf report):

The U.S. Market Risk Index shows 13 MSAs continue to have risk scores above 500, meaning they face a 50 percent or greater risk of home price declines in the next two years..."We'd reached a point where prices had gotten too far away from economic fundamentals," Milner explained. "A return to a more normalized appreciation climate is a natural outcome." While appreciation is slowing in many markets, it is still positive in all of the nation's 50 largest markets.

Risk remains concentrated along the coasts. Of the 13 highest risk MSAs, eight are located in California and five are in the Northeast. San Diego, CA remains the riskiest area with a score of 599, or a 59.9 percent chance prices will decline within two years. Sacramento, CA joined the top five for the first time with a score of 585.
  1. San Diego-Carlsbad-San Marcos, CA 599
  2. Nassau-Suffolk, NY (MSAD) 589
  3. Boston-Quincy, MA (MSAD) 588
  4. Santa Ana-Anaheim-Irvine, CA (MSAD) 588
  5. Sacramento-Arden-Arcade-Roseville, CA 585
Hat tip: John Lansner.


DC Housing News said...


New blog on Dc's inflated housing market. Enjoy, and thanks for visiting.

ocrenter said...

ha!! mine bubble is still bigger than your bubble! take that!

Happy Renter said...

The Intel downsizing has begun.

Happy Renter said...
This comment has been removed by a blog administrator.
Happy Renter said...

Lockwood has a new post encouraging people to make lowball offers on condos.

He's excepting comments this time to.

Happy Renter said...

$11 Billion worth of condo projects planned for the downtown area.