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| Daren Blomquist |
IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s
leading source for comprehensive housing data, released a report identifying
county-level housing markets with early warning signs of a possible home price
bubble — where prices overinflate and eventually decline.
The report also identified markets with little risk for a
home price bubble.
The report analyzed 475 U.S. counties with a combined
population of more than 221 million — accounting for more than 70 percent the
total U.S. population — based on three early warning signs of a possible home
price bubble.
“Affordability and foreclosure rates by loan vintage are two
key metrics that will help consumers, investors, institutions and policy makers
identify if a housing market is at risk for another price bubble,” said Daren
Blomquist, vice president at RealtyTrac.
“While 99 percent of
markets have not returned to the irrational affordability levels during the
previous housing bubble, one in five markets have now exceeded their historical
affordability norms, which is a strong sign that either a new home price bubble
is forming in those markets or that home price appreciation will soon plateau
until incomes can catch up.”
For a complete copy of the company’s news release, please
contact:
Jennifer Von Pohlmann
949.502.8300949.502.8300, ext. 139
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