—More Than Half of Potential Cities Have “Overvalued” Housing Markets—
IRVINE, Calif. — (BUSINESS WIRE) — January 18, 2018 — CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today revealed its analysis of the housing economy in cities* being considered for Amazon’s “second headquarters” location.
CoreLogic monitors the health of the housing economy through historic home price changes and other market conditions including sustainability of prices in the market, referred to as the CoreLogic Market Condition Indicators (MCI). The MCI analysis defines an overvalued housing market as one in which home prices are at least 10 percent higher than the long-term, sustainable level, while an undervalued housing market is one in which home prices are at least 10 percent below the sustainable level.
City or Region
CoreLogic HPI YOY
|Los Angeles, CA||7.46%||Overvalued|
|Montgomery County, MD||2.78%||Overvalued|
|New York City, NY||3.32%||Overvalued|
|Northern Virginia, VA||3.68%||Overvalued|
Source: CoreLogic, November 2017