2006/11/10 Riskiest Safest Housing Markets

The PMI Group is out with it’s quarterly report on the risks in the mortgage world:

10 Riskiest Housing Markets, Fall 2006

San Diego-Carlsbad-San Marcos, Calif., 60.3 percent
Sacramento-Arden-Arcade-Roseville, Calif., 60.1 percent
Oakland-Fremont-Hayward, Calif., 60 percent
Santa Ana-Anaheim-Irvine, Calif., 59.9 percent
Nassau-Suffolk, N.Y., 59.8 percent
Riverside-San Bernardino-Ontario, Calif., 59.6 percent
Boston-Quincy, Mass., 59.6 percent
Providence-New Bedford-Fall River, R.I.-Mass., 59 percent
Los Angeles-Long Beach-Glendale, Calif., 59 percent
San Jose-Sunnyvale-Santa Clara, Calif., 58.9 percent

The percentage is the probability determined by the PMI Institute that housing prices in that market sector will go down 10 percent or more in the next two years. So San Diego has a 60.3 percent chance of declines of 10 percent or greater according to the PMI Group.

10 Safest Housing Markets, Fall 2006

Pittsburgh, 6.1 percent
Indianapolis-Carmel, Ind., 6.3 percent
Memphis, Tenn.-Miss.-Ark., 6.8 percent
Cincinnati-Middletown, Ohio-Ky.-Ind., 7.2 percent
Cleveland-Elyria-Mentor, Ohio, 7.4 percent
Columbus, Ohio, 7.4 percent
Fort Worth-Arlington, Texas (MSAD), 7.6 percent
San Antonio, Texas, 7.8 percent
Nashville-Davidson-Murfreesboro, Tenn., 8.6 percent
Houston-Sugar Land-Baytown, Texas, 8.8 percent

The percentage is the probability determined by the PMI Institute that housing prices in that market sector will go down 10 percent or more in the next two years. Pittsburghs chance of losing 10 percent is 6.1 percent making the city the safest investment according to the PMI Group.

Source: http://www.therealestatebloggers.com/