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CoreLogic: 1/3 of Home Prices Overvalued

Mortgage News > CoreLogic: 1/3 of Home Prices Overvalued
Date: 02/05/2020    CoreLogic: 1/3 of Home Prices Overvalued

Due to a severe shortage of moderately priced homes, more than a third of major U.S. housing markets are overvalued, according to CoreLogic. When compared to “long-run, sustainable levels which are supported by local markets fundamentals,” CoreLogic found that 34% of all metropolitan housing market prices were too high in December. As a result, the median national home price rose 0.3% from the month before and 4% from December 2018. Ultra-low mortgage interest rates and high demand are likely to push more markets into the “overvalued” territory.

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