No metro Phoenix cities on are the latest PMI Mortgage Insurance Co risk of the top 10 most risky and least risky real estate. (I don’t consider Kingman ‘metro’ Phoenix, although some might argue with me on that)
Unfortunately for the Sunshine State, 7 of the top 10 most risky markets are in Florida.
10 riskiest housing markets
1. Naples-Marco Island, Fla.
2. Lake Havasu City-Kingman, Ariz.
3. Cape Coral-Fort Myers, Fla.
4. Lakeland-Winter Haven, Fla.
5. Palm Coast, Fla.
6. Miami-Miami Beach-Kendall, Fla.
7. Port St. Lucie, Fla.
8. Riverside-San Bernardino-Ontario, Calif.
9. Las Vegas-Paradise, Nev.
10. Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla.
10 least risky markets
1. Grand Forks, N.D.-Minn.
2. Fargo N.D.-Minn.
3. Killeen-Temple-Fort Hood, Texas
4. Fayetteville, N.C.
5. Iowa City, Iowa
6. Ames, Iowa
7. Cedar Rapids, Iowa
8. Morgantown, W.V.
9. Texarkana, Texas-Ark.
10. Bismark, N.D.
Still, all isn’t rosy – yet – in the metro Phoenix region. A color coded map showing risk still shows lots and lots of red in Arizona:
(click to enlarge)
Methodology used in the report: (click to enlarge)
All graphics courtesy of PMI Mortgage Insurance Co.
(click to enlarge)
Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.
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Figured I should comment on my own post, in light of Chris’ latest issue of “Viewpoint”. What? You don’t receive Viewpoint? Dude, you’re totally missing out. 1100 people get it and love it, and email us back to tell us so. See waaaay up top of this page where it says “Free Premium Content”? Yeah, click there. Get in on The Viewpoint.
Anyway, in the latest Viewpoint, Chris talks about simplistic headlines in the real estate market and the stock market, and how much they make his head hurt. Truthfully, over-simplified headlines aren’t useful. If you open the newspaper today you could see “Phoenix Real Estate Prices Rise!” but tomorrow’s headline might scream “Valley Overcome by Foreclosures!”. If you drill down into the statistics far enough, down to tiny details about 1 specific neighborhood, price band, type of house, etc., you probably could prove both those headlines are true. At the same time!
So maybe this list of Top 10s and colorful map of the US isn’t the best thing in the world for you to use if you’re deciding whether to buy or sell. Know what’s better? Talk to a Realtor you can trust who can help you sort out all the information about your house, your neighborhood, your economic & financial present & future. . . Headlines have only 1 purpose after all: to sell media content.