here has been a shift in home price reductions in the next
the risk of home price two years. Five MSAs in
reductions in the U.S. California - Los Angeles, Santa
towards Florida and California Ana, Oakland, Sacramento and San
and some areas of the southwest, Diego in California, and four in
according to the PMI Mortgage Florida - Orlando, Fort
Insurance Co.'s Summer 2007 U.S. Lauderdale, Miami and Tampa,
Market Risk Index. The index feature among the top 11 that
ranks the 50 largest metropolitan face a home price decline of more
statistical areas in the U.S. than 50 %.
according to the risk of home
price reduction in the next two Home price appreciation rates
years. have slowed in almost all the 50
largest MSAs. The number of MSAs
On an average, the 50 MSAs scored that saw a home appreciation in
346, which is 34.6 % possibility the double digits in the first
that home prices will reduce in quarter of 2007 has declined to
the next two years. The PMI risk five, way below last year's 26.
index model has been updated this
year with the inclusion of the Markets which have had a history
recent price volatility in the of price volatility are more
market. Also this year's index likely to experience home price
includes risk ranking where in decline in the future, according
MSAs with consistent to Mark F. Milner, PMI's Chief
characteristics are grouped under Risk Officer. Still with all
the same rank. Thus we have these going ons, it is not a bad
Riverside, CA, Phoenix, AZ, Las time to buy a home as a long term
Vegas, NV, and West Palm Beach, investment as long as buyers pick
FL group ranked on the top of the their mortgage package with care
index having about 60 % chance of and have realistic expectations
of their properties appreciation. 2 Orlando-Kissimmee, FL – 563
2
The following are the top 15 Sacramento-Arden-Arcade-Roseville
metro areas that are likely to , CA – 560
experience home price declines in 2 San Diego-Carlsbad-San Marcos,
the next two years, with their CA – 555
group ranks at the front, and 2 Fort Lauderdale-Pompano
scores at the end. Beach-Deerfield Beach, FL – 542
2 Miami-Miami Beach-Kendall, FL –
1 Riverside-San 524
Bernardino-Ontario, CA – 652 2 Tampa-St.
1 Phoenix-Mesa-Scottsdale, AZ – Petersburg-Clearwater, FL – 506
646 2 Boston-Quincy, MA – 501
1 Las Vegas-Paradise, NV – 614 2
1 West Palm Beach-Boca Washington-Arlington-Alexandria,
Raton-Boynton Beach, FL – 607 DC-VA-MC – 500
2 Los Angeles-Long
Beach-Glendale, CA – 586 Be sure to contact a local
2 Santa Ana-Anaheim-Irvine, CA – Realtor if you are thinking about
577 buying or selling a home, condo,
2 Oakland-Fremont-Hayward, CA – or any other real estate.
572
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San Diego Condos
Carmel Valley Real Estate
Point Loma Real Estate
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