Source: Tampa Bay Times —
After two years of near-nonstop growth, housing prices may have finally peaked in some U.S. cities, according to data from Florida Atlantic University. Still, experts predict that Florida’s real estate market will remain strong compared to other parts of the country.
Each month, economists Ken H. Johnson from FAU and Eli Beracha from Florida International University compare the expected price of housing with the actual price in the country’s largest metro areas to see which cities are the most overvalued.
Tampa ranked ninth overall in July, with the average home selling for 58.5% more than the expected price. Fort Myers came in at No. 3 and Lakeland at No. 7.
Housing premiums — the difference between the actual and expected price — declined in 27 metro areas.
