Housing Prices Today

Physician's Money Digest, June2005, Volume 12, Issue 9

A recent study by National CityCorp of the 99 biggest real estate marketsin the United States uncovered themost overpriced and underpriced marketsin the country. The study found thatthe top seven most overvalued marketsare located in California, led by the cityof Chico, which hits buyers with a 43%premium of correct market price, as calculatedby National City Corp. Outsideof California, overpriced markets includeWest Palm Beach, Fla (26% premium),and Las Vegas, Nev (24% premium). Asfor the most underpriced cities, Salt LakeCity, Utah, tops the list with a 23% discount.Just behind Salt Lake City in thebargain bin are Memphis, Tenn (20%discount), and Macon, Ga (17% discount).The study also named two citiesthat were perfectly priced: Louisville, Ky,and Tucson, Ariz.