According to a recent article on CNN/Money, home prices in the U.S. have surged 12.5% over the past year, with fifteen markets in particular having experienced above average gains making them especially susceptible to a housing correction. Are you at risk? Read on to find out…
The following are currently the fifteen hottest markets with percentage increase in average home price over the past year is indicated parenthetically:
1. Nevada (31.2)
2. California (25.4)
3. Hawaii (24.4)
4. Washington, D.C. (22.2)
5. Florida (21.4)
6. Maryland (21.0)
7. Arizona (19.4)
8. Virginia (18.6)
9. Rhode Island (17.1)
10. New Jersey (15.8)
11. Vermont (14.8)
12. Delaware (14.8)
13. Maine (14.1)
14. New York (13.5)
15. Connecticut (13.4)
I’m not sure that I buy into the argument that above average gains nececssarily translates into above average risk for a correction, but it’s food for thought. If you want to see the 5 and 25 year numbers, be sure to check out the original article.
