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Las Vegas ranks among most overvalued housing markets in the US | Local – Las Vegas, Nevada

Las Vegas, Nevada 2021-09-21 09:11:00 –

Las Vegas (FOX5)-Las Vegas is listed as one of the most overrated housing markets in the United States.

New research Florida Atlantic University and Florida International University ranked the Las Vegas region in the top 10 overrated large housing markets. According to the analysis, Las Vegas homes outperform long-term price trends by 41.88%.

“In the top 10 markets, potential buyers may want to consider renting and reinvesting money that they would otherwise have invested in homeowners,” said real estate economist Ken Johnson. I did. “Rents and reinvestments have often outweighed ownership in terms of wealth creation.”

Boise, Idaho, has topped the list of the most overvalued markets, with homes selling at about 80% higher prices than they should, based on historic pricing.

According to the survey, the top 10 most overvalued housing markets are:

Rank Metro area premium
1 Boise, Idaho 80.64%
2 Austin, Texas 50.72%
3 Ogden, Utah 49.7%
Four Provo, Utah 46.16%
Five Detroit, Michigan 45.57%
6 Spokane, Washington 45.21%
7 Salt Lake City, Utah 42.41%
8 Phoenix, Arizona 42.31%
9 Las Vegas, Nevada 41.88%
Ten Stockton, California 38.5%

Studies show that Honolulu, Hawaii and Virginia Beach, Virginia are one of the best deals for buyers because their homes are undervalued and sold at discounts of up to 5%.

According to the survey, the 10 markets that offer the best deals to buyers are:

Rank Metro area premium
100 Urban Honolulu, Hawaii -4.93%
99 Virginia Beach, Virginia -2.46%
98 Baltimore, Maryland -1.69%
97 New York, NY -0.79%
96 Baton Rouge, Louisiana -0.37%
95 Washington DC 0.59%
94 New Orleans, Louisiana 2.06%
93 Albany, NY 3.79%
92 Little Rock, Arkansas 4.27%
91 Hartford, Connecticut 4.45%

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