Saturday, April 02, 2005

How Bubbly Is Your Housing Market?

Interactive Table:
After one of the greatest booms in history, housing is likely to cool off in 2005. While prices won't collapse nationally, some overheated markets could see sharp price declines in the next year or so. How do you know if you're in one of those markets?

By exploring this exclusive interactive table. It contains nine key data points on each of more than 30 major metro areas. See how much home prices have risen, how prices stack up against local incomes, or how expensive it is to buy a house vs. rent a similar property. And more. Each column can be sorted from highest to lowest values to see how the various metro areas rank by that measure. Column headings are defined below.


Click column heading once to reorder from highest to lowest. Click twice to reorder from lowest to highest.
Metro Area

Change in House Prices
1999 to 2004
(%)
Housing Opportunity Index
(low numbers are most affordable)
Luxury Housing Affordability Index
(numbers above 100 are more affordable)
Housing Volatility Index
(low numbers are riskiest)
Change in Employment
1999 to 2004
(%)
Change in Single-Family House Construction Permits
1999 to 2004
(%)
Cost of Renting in Proportion to Cost of Owning
(lower percentages mean renting is cheaper)
(%)
Housing Cycle Barometer Affordability
(high numbers mean less affordable)
Homes Bought as Investments, 2004
(%)
Atlanta 28 41 187 254 2 16 924.7 8
Baltimore 89 76 115 NA 4 -29 NA 8.0 10
Boston 44 121 115 53 -3 -11 678.2 6
Chicago 47 104 151 143 -2 12 726.4 6
Cleveland NA 22 165 298 -5 5 NA 5.3 6
Dallas 19 73 NA 370 1 40 940.4 7
Denver NA 74 153 295 0 -6 595.7 8
Detroit NA 27 208 267 -5 0 NA 6.6 6
Houston 29 62 NA 293 4 76 900.9 7
Las Vegas 103 128 NA 82 23 59 544.5 16
Los Angeles 118 159 74 78 2 7 557.0 10
Miami 105 NA 91 85 9 13 637.9 11
Minneapolis 56 63 169 123 2 10 775.5 6
New Orleans 27 NA NA 57 -1 54 NA 4.4 11
New York 94 148 84 99 1 -23 717.4 5
Orlando 63 98 NA 122 11 68 875.1 9
Philadelphia 48 71 184 107 2 -10 914.6 9
Phoenix 34 82 148 134 10 48 765.0 13
Pittsburgh 22 32 229 220 1 5 NA 2.2 6
Portland, Ore. 27 69 169 9 0 6 NA 5.8 9
Riverside-San Bernardino 131 138 106 77 22 126 NA 5.6 13
Sacramento 137 142 NA 81 11 69 NA 6.0 15
San Antonio 34 43 NA 16 5 40 NA 0.0 8
San Diego 137 158 75 76 9 -11 406.7 12
San Francisco Bay Area (San Francisco, Oakland, San Jose) 78 NA NA NA -7 -25 45 NA NA
San Francisco-Oakland NA 147 81 72 -4 -25 45 NA 7
San Jose NA 135 NA 6 -13 -26 NA 6.6 6
Seattle 36 109 115 153 -1 20 516.8 7
St. Louis 22 10 204 NA 0 25 NA 3.3 6
Tampa 69 84 162 NA 11 73 895.2 12
Washington , D.C. 97 116 118 91 12 -2 596.5 8

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