Boise sees worst price inflation; Los Angeles and San Francisco stable
A new report analyzing housing markets in the country show pandemic boom towns — and Zoom towns — to be wildly overvalued, if not at risk of going bust.
By comparing how much buyers paid for homes in various markets with how much those homes were projected to be worth based on historical data, the study found that buyers have been paying astronomical premiums to live in supposedly affordable cities. The worst was Boise, where buyers paid a 76% premium, followed by (of course) Austin, at 62% and a host of secondary, non-coastal markets.
Interestingly, of the 100 cities that were examined, San Francisco (10%), Los Angeles (8%), and New York (2%) were some of the least overvalued markets in the country.
Source: Market Watch