Cities Where Houses Are Most Undervalued (and Overvalued)

(From Marketwatch.com) U.S. house prices are only undervalued by around 2% on average, according to the latest research, but they’re still overvalued — and undervalued — by double-digit percentages in some metro areas. American house prices were, on average, almost back to normal in the fourth quarter of 2014, after being undervalued by as much as 5% one year ago and by 3% in the previous quarter, but the extent to which they’re undervalued or overvalued still varies dramatically among the 100 largest metropolitan areas, according to real-estate website Trulia. In the first quarter of 2006, at the peak of the housing-market bubble, U.S. houses were overvalued by 34% before dropping to 14% in the first quarter of 2012. Read more.