A new study examines how far out of control some housing markets have gotten as a result of pandemic trends in real estate.
"A new survey from Florida Atlantic University and Florida International University looks at the nation’s most overvalued homes, with Boise, Idaho, topping the list," reports Chris Morris. "Homes in the Gem State sell for a stunning 80.64% premium, based on a history of past pricing."
Boise far outpaces the second city on the list, Austin, where homes are a little more than 50 percent overvalued, according to the study. Ogden and Provo follow, with Detroit (!!) rounding out the top five. Of 100 cities evaluated, 95 are overvalued, according to the study.
Researchers Ken H. Johnson and Eli Beracha produced the study using data from the Zillow Home Value Index. The methodology can be found here.
The findings of the study come with a warning, writes Morris: "If you plan to move soon, you could find yourself later selling property at a loss."
The study follows shortly after a Pew Research Center survey revealed more Americans voicing a preference for single-family housing in sprawling development patterns, far from retail and other uses.
FULL STORY: These are the most overvalued housing markets in the U.S.
The Extreme Measures of the Pandemic 'Housing Boom'
It's hard to describe the current trends in the housing market as a "boom," though homebuying costs are surely rising.
Where Housing Prices Climbed Most During the Pandemic
Homes in suburban and even rural locations were hot commodities on the pandemic real estate market, according to an industry report.
Post-Pandemic Home Building Trends: More Bedrooms, Smaller Homes
U.S. homes are adding bedrooms while getting smaller, according to two seemingly contradictory articles published on the same day from different data sources earlier this month.
Manufactured Crisis: Losing the Nation’s Largest Source of Unsubsidized Affordable Housing
Manufactured housing communities have long been an affordable housing option for millions of people living in the U.S., but that affordability is disappearing rapidly. How did we get here?
Americans May Be Stuck — But Why?
Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?
Research Shows More Roads = More Driving
A national study shows, once again, that increasing road supply induces additional vehicle travel, particularly over the long run.
Minneapolis Bans Rent-Setting Software
Four cities have enacted restrictions on algorithmic software that can inflate rent costs.
Oakland to Add 244 New EV Chargers
Oakland plans to launch its new charging network at eight locations by the end of 2025.
Jane Goodall Inspires with Message of Hope, Resilience, and Environmental Action
Speaking in Pasadena, Jane Goodall offered a hopeful and inspirational message, urging global compassion, environmental responsibility, and the power of individual action to shape a better future.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
City of Moreno Valley
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
NYU Wagner Graduate School of Public Service
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport