The 10 Housing Markets In America That Are Still Wildly Overvalued

Portland, OR

Photo: Zillow

If you lived in Florida or the Southwest, then you probably got destroyed in 2007. But at least you got the bandaid off.Lesser real estate markets that thrived in the shadow of boomtowns are still riding high on the bubble, according to a report by IHS Global Insight.

That’s why the new housing bubble is in places like Washington and New Jersey.

America’s 10 Most Overvalued Residential Markets >

Missoula, MT -- 14.5% overvalued

Average home price

Bubble: $240k

Today: $226k

Ideal: $197k

Would you buy this $229,900 home?

Source: IHS Global Insight

Portland, OR -- 15.2% overvalued

Average home price

Bubble: $306k

Today: $262k

Ideal: $227k

Would you buy this $269,900 home?

Source: IHS Global Insight

Duluth, MN -- 16.5% overvalued

Average home price

Bubble: $122k

Today: $121k

Ideal: $104k

Would you buy this $129,900 home?

Source: IHS Global Insight

Asheville, NC -- 16.6% overvalued

Average home price

Bubble: $174k

Today: $168k

Ideal: $144k

Would you buy this $185,000 home?

Source: IHS Global Insight

Bellingham, WA -- 21.4% overvalued

Average home price

Bubble: $302k

Today: $278k

Ideal: $229k

Would you buy this $300,000 home?

Source: IHS Global Insight

Longview, WA -- 21.8% overvalued

Average home price

Bubble: $213k

Today: $182k

Ideal: $149k

Would you buy this $185,000 home?

Source: IHS Global Insight

Grand Junction, CO -- 24.6% overvalued

Average home price

Bubble: $214k

Today: $204k

Ideal: $164k

Would you buy this $209,000 home?

Source: IHS Global Insight

Wenatchee, WA -- 26.2% overvalued

Average home price

Bubble: $256k

Today: $239k

Ideal: $189k

Would you buy this $247,000 home?

Source: IHS Global Insight

Ocean City, NJ -- 31.7% overvalued

Average home price

Bubble: $321k

Today: $298k

Ideal: $226k

Would you buy this $299,000 home?

Source: IHS Global Insight

Atlantic City, NJ -- 33.2% overvalued

Average home price

Bubble: $258k

Today: $228k

Ideal: $171k

Would you buy this $229,000 home?

Source: IHS Global Insight

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