| The risk of home price reductions across the | | | | |
| U.S. has been triggered by the year-over-year | | | | 2.San Diego-Carlsbad-San Marcos, CA - 603 |
| slowdown in the appreciation rate of home | | | | |
| prices and a decrease in housing | | | | 3.Oakland-Fremont-Hayward, CA - 603 |
| affordability, according to the PMI Mortgage | | | | |
| Insurance Co. The forecasts are based on | | | | 4.Santa Ana-Anaheim-Irvine, CA - 602 |
| PMI's Winter 2007 Market Risk Index report | | | | |
| that lists out the communities which face the | | | | 5.Nassau-Suffolk, NY - 601 |
| risk of home price decrease in the | | | | |
| forthcoming years. Several communities are at | | | | 6.Riverside-San Bernardino-Ontario, CA - 600 |
| risk of home price reductions but in areas | | | | |
| that have strong economic fundamentals such | | | | 7.Los Angeles-Long Beach-Glendale, CA - 597 |
| as low unemployment rates, good job growth | | | | |
| and incomes, the risk of home price declines | | | | 8.Boston-Quincy, MA - 595 |
| is much lower. | | | | |
| | | | 9.Providence-New Bedford-Fall River, RI-MA - |
| Out of 50 largest metropolitan statistical | | | | 595 |
| areas (MSAs), 34 have shown an increase risk | | | | |
| of home price declines. The PMI U.S. Market | | | | 10.San Jose-Sunnyvale-Santa Clara, CA - 592 |
| Risk Index (SM) average score increased | | | | |
| consequently from 328 to 342, raising the | | | | 11.San Francisco-San Mateo-Redwood City, CA - |
| risk of home price decline in the next 2 | | | | 588 |
| years to 34.2 %. The year-over-year | | | | |
| appreciation rate has slowed down in 43 of | | | | 12.Edison, NJ - 586 |
| the 50 largest MSAs. | | | | |
| | | | 13.Fort Lauderdale-Pompano Beach-Deerfield |
| The risk of home price decline went up to 50 | | | | Beach, FL - 579 |
| % from 18 % of last quarter in 19 MSAs with | | | | |
| California and the Eastern Seaboard facing | | | | 14.Washington-Arlington-Alexandria, |
| the most risk. Eight of these MSAs are | | | | DC-VA-MD-WV - 568 |
| located in California, eight in the Northeast | | | | |
| and two in Florida. | | | | 15.New York-White Plains- Wayne, NY-NJ - 566 |
| | | | |
| However, most MSAs are going strong on the | | | | 16.Cambridge-Newton- Framingham, MA - 563 |
| economic front in terms of unemployment rates | | | | |
| and job growth with 46 out of the 50 MSAs | | | | 17.Las Vegas-Paradise, NV - 550 |
| recording employment growth. New Orleans | | | | |
| topped the list of MSAs registering a | | | | 18.Newark-Union, NJ-PA - 549 |
| positive job growth of 8.37 %. Only Detroit | | | | |
| and Warren in Michigan, Cleveland in Ohio and | | | | 19.Miami-Miami Beach- Kendall, FL - 535 |
| Indianapolis in Indiana saw a slump in the | | | | |
| job growth rate. | | | | 20.Baltimore-Towson, MD - 498 |
| | | | |
| The top 20 communities at risk for home price | | | | If you are considering buying a home, condo |
| reductions and their risk scores are as | | | | or any other type of real estate, be sure to |
| follows: | | | | seek out the services of a local real estate |
| | | | agent to advise you about real-time local |
| 1.Sacramento-Arden-Arcade-Roseville, CA - 604 | | | | market conditions. |