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Report: US Home Prices About 4% Overvalued

Home prices in US metro markets are heating up across the board and some areas appear particularly overpriced. Of 935 metro areas across the nation, 733 show signs of overheating, with six of the top 10 most overvalued in tech-heavy California. On average, US home prices are currently 4% overvalued but still well below the 2006 boom's froth when homes nationwide were overpriced by 15%, according to Barron’s. Real estate valuation firm Collateral Analytics crunched the data to correlate an area’s median single-family home price with its intrinsic value, an optimal affordable home price based on median incomes and other factors. [BAR]

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