Top 5 Most Overvalued Housing Markets in 2024

These are the top 5 most overvalued housing markets in America today. Where home prices have gone up way above their long-term norms. Be careful if you're a homebuyer in these markets: prices could drop.

5. Tampa-St. Peterburg, FL
4. Dallas, TX
3. Charlotte, NC
2. Miami, FL
1. Lakeland, FL
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[TonyPow-ecmr]

my wife and I own single home family rentals. we have $200, 000 left on mortgages. We are now the possibility of maintaining $70, 000 annual income by selling and investing in stocks and bonds. How does this work out?

[Stevesmusic]

And yet Ron DeSantis said that he was taking care of his state and that he didn’t want to become the next California but now it’s going the direction of California every day

[misterogers]

I have a feeling Austin and Boise barely missed the list along with the top Californian cities.

[AshleySpeaksU]

Spokane Washington is on the list of top ten. My home is supposedly worth $239, 000, when valued at roughly $85, 000 in 2018. I know my home is being $100, 000 over-valued here.

[Scash]

No Las Vegas? I look in this market every day. Some houses have doubled since 2018 alone!

[echizensoxx]

Anaheim, CA here. 2 bed 1 1/2 bath. 415k just before pandemic, now 640k. That is overvalued.

[ronniepratt]

I think your data is wrong... California by far is the most over valued by a minimum of 100% or more.

[danielherrera]

#1 KEYLARGO, FL
60% OVERVALUED.
A trailer on a 30 x 45 ft. Lot $400.000.

[PolyCindy]

The thing about Tampa/St Pete is that people buy houses with cash and their income has nothing to do with their purchases. Adjusting for percentage of cash buyers can be adjusted by - if the purchase was made by an LLC or not. Some of these places are unaffordable to locals but are changing forever by the newcomers that are here to stay. Are population projections also factored in? Adjustments for rates of new businesses opening? Some cities have a dying small business community. Tampa’s is pretty robust.

[donrondel]

if you go to their app you have to pay for a subscription to get detailed info ...

[Baruch-Hashem]

Valuation is set by the free market, simply supply and demand, so what is over valued mean ? This is a per home price, as if the price is what the market will pay, it will sell.

[Anonymoususer]

I’m shocked Nashville didn’t make the list to be honest

[ginacardarella]

I'm curious. How do you come up with that percentage of it being overpriced? I want to know how you do that. Do you just take what it was selling four years ago or how do you decide that

[silkwrap]

What's your evaluation on Asheville, NC?

[dustin]

How can you say florida is overvalued when so many that are there are retired and arent working hence scewing the income to house price ratio

[MaverickMonad]

Don't forget the 68% over-valuation in Ventura, California. Where elderly retirees who own homes free & clear are no longer living in their owned homes but are residing in eldercare facilities, leaving over 300 homes vacant in this small town NOT for sale, NOT for rent. Millennials have moved away to find work away from the overpriced Ventura, CA, GenX are retired or near it with only about 10ys left on their mortgages in Ventura, CA. GenZ's are dropping out of college in Ventura, CA and moving out of state in collective groups to pool money & resources to better afford living expenses not found in Ventura, CA. No investors are buying NOR offering to buy the inventory in Ventura, CA because they know there's no employment opportunities there to support the HIGH RENTS & OverValued home prices in Ventura, CA. The City Staff of Ventura, CA over-rides the Council & Mayors every year with the Staff's favorite projects thus ignoring the elected Council Members to represent their constituents. There's no work, young adults are leaving to get work, the relocated elderly are not renting their vacant homes and their NOT listing them for sale in Ventura, CA.

[jacobs]

No joke, I am looking in everyone of those cities except Dallas... WTF

[TarmacSkin]

Out of 50 states you keep repeating the same unstable markets. Where’s the crash dude!?!?

[jojokeane]

Dallas isn't going to crash. Maybe prices will go down a little. The city is growing from California refugees.

[mrstevens]

You're being modest, 34%!? In Orlando there are homes 50% over priced. Miami, is 50%-60% over priced.😐