This City Has the Most Overvalued Houses

Homebuyers in Atlanta paying nearly 50% above historical averages
By Newser Editors,  Newser Staff
Posted Jun 24, 2023 5:30 AM CDT
This City Has the Most Overvalued Houses
The Atlanta skyline.   (Getty / Sean Davis)

The housing market may have cooled off from last year, but prices remain sky high in much of the country. In Atlanta, for instance, people are paying prices nearly 50% above historical averages there, according to an analysis out of Florida Atlantic University. While that city is tops on the list in that regard, five cities in Florida make the top 10, notes Insider. "Florida is so overvalued, almost certainly because of the increased demand to live here, combined with a shortage of available housing units," explains FAU economist Ken H. Johnson. "There are just not enough roofs to go around." The 10 most overpriced housing markets:

  1. Atlanta, Georgia, up 48.57%
  2. Detroit, Michigan, 45.80%
  3. Tampa, Florida, 43.98%
  4. North Port, Florida, 43.49%
  5. Cape Coral, Florida, 43.35%
  6. Memphis, Tennessee, 43.35%
  7. Lakeland, Florida, 42.36%
  8. Charlotte, North Carolina, 42.19%
  9. Palm Bay, Florida, 41.00%
  10. Winston, North Carolina, 40.96%
See the full ranking from FAU. (Or check out other lists.)

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