S & P Names Cincinnati Most Stable Housing Market
I read an article on cinplify.com, that linked to a Standard & Poor study that found that Cincinnati and Columbus to be the most stable housing markets in terms of price and posed the least risk of price decline in the U.S. This is because Texas and the midwest were less affected by the real estate boom.
The article on MSN reports that there’s a 34.6% chance on average that home prices will drop in the nation’s top 50 markets in the next couple of years, according to PMI Mortgage Insurance’s new U.S. Market Risk Index, which heavily factors in recent price volatility. Some of the markets that will be most affected by this drop are the areas that saw the most rapid appreciation, followed by the reduction of affordable housing, which then impacted the level of appreciation. Some of these states include Nevada, California, Florida, and Arizona.
