In a recent article, Fortune Magazine asked real estate research firm CoreLogic to provide its assessment of the nation’s largest regional housing markets.
The firm looked at 392 U.S. markets in April and found that 17 regional housing markets had a greater than 40 percent chance of seeing local home prices decline over the next 12 months.
To determine the likelihood of regional home prices dropping, the real estate research firm assessed factors like income growth projections, unemployment forecasts, consumer confidence, debt-to-income ratios, affordability, mortgage rates and inventory levels.
Housing markets were grouped into five categories by the likelihood that home prices in that particular market will fall over the coming 12 months. The Deltona-Daytona-Ormond market showed a 0-20% chance of prices dropping over the next year.
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— Compiled by Business Editor Joe Crews