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Top 20 U.S. communities at risk of home price reductions

The risk of home price reduction has in the U.S. in the previous year downturn been triggered in the appreciation rate of house prices and a decline in housing affordability, based upon the PMI Mortgage Insurance Co. The outlook on PMI's Winter 2007 Market Risk Index report that lists are based out of the communities which the risk of home price decline in the face in the coming years. Some communities are Risk of home price reductions, but in areas that have strong economic fundamentals such as low unemployment rates, good job growth and income, the Risk of home price declines significantly lower.

have shown from the 50 largest metropolitan statistical areas (MSA), 34 an increase, risk the home price declines. The PMI U.S. Market Risk Index (SM) average therefore increased to 328-342, the increase in the risk of home price decline in the next 2 years to 34.2%. The year over the previous year appreciation rate has slowed in 43 of the 50 largest MSAs.

The risk of home price decline was up to 50% from 18% in the last quarter in 19 MSAs with California and the Eastern Seaboard, with the highest risks. Eight of these MSAs are in California, eight in the Northeast and two in Florida.

However, most MSAs is on the economic front in terms of unemployment and strong employment growth, with 46 of the 50 MSAs record employment growth. New Orleans topped the list of MSAs registering a positive job growth of 8.37%. Only Detroit and Warren, Michigan, Cleveland, Ohio and Indianapolis, Indiana saw a Drop in job growth.

The Top 20 communities are at risk for home prices and their risk scores as follows:

1.Sacramento-Arden-Arcade-Roseville, CA - 604
2.San Diego-Carlsbad-San Marcos, CA - 603
3.Oakland Fremont-Hayward, CA - 603
4.Santa Ana-Anaheim-Irvine, CA - 602
5.Nassau-Suffolk, NY - 601
6.Riverside-San Bernardino-Ontario, CA - 600
7.Los Angeles-Long Beach-Glendale, CA - 597
8.Boston-Quincy, MA - 595
9.Providence-New Bedford-Fall River, RI-MA - 595
10.San Jose-Sunnyvale-Santa Clara, CA - 592
11.San Francisco San Mateo-Redwood City, CA - 588
12.Edison, NJ - 586
13.Fort Lauderdale-Pompano Beach-Deerfield Beach, FL - 579
14.Washington-Arlington-Alexandria, DC-MD-VA-WV - 568
15.New York White Plains-Wayne, NY-NJ - 566
16.Cambridge-Newton-Framingham, MA - 563
17.Las Vegas-Paradise, NV - 550
18.Newark-Union, NJ-PA - 549
19.Miami-Miami Beach-Kendall, FL - 535
20.Baltimore-Towson, MD - 498

If you are considering buying a house, condominium or any other type of real estate, be sure to seek the services of a local real estate advice for you in real time about the local market conditions.

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