Prices in U.S. Returning to Normal

by John O'Leary

If you read this entire story, just five paragraphs more than is clipped here, you will notice a number of areas including Tucson, Arizona, dropping below previous levels of overvalued status.

clipped from www.realtor.org “A market returning to normal” is the way Global Insight, a privately held global information company, describes the current housing market, based on the most recent U.S. Housing Valuation Analysis. The Housing Valuation Analysis — a joint effort by Global Insight and National City Corp. — examines the top 317 U.S. real estate markets using data from the Office of Federal Housing Enterprise Oversight. Taking into consideration differences in population density, household incomes, and interest rates, the analysis determines what home prices should be and how much current prices deviate from that norm. — By Camilla McLaughlin for REALTOR® Magazine Online Daily Real Estate News  |  March 30, 2007