Northwest At Risk Of Price Declines
National City released its fourth quarter 2007 report last month and it offered a chilling look at Oregon’s metro areas.
Metro areas in the Northwest seem to be the remaining pockets of froth,coincident with robust economies but at risk of price declines goingforward……Bend Oregon tops the overvaluation list.
According to National City, Oregon contains some of the most overvalued markets in the country. The first graph shows Northwest markets with their ‘overvaluation’ ranking. Click on any graph for a better image.
The second graph shows Oregon metro home prices since the mid 80’s.
The third graph shows Oregon metro valuation since the mid 80’s. Anything above zero indicates overvaluation, but doesn’t guarantee a price correction.
The National City report covers 330 metro areas and encompasses 93% of all housing units. The overvalued regions are in red.
Original post by Clint8200
