In a report released by IHS Global Insight, using statistics from the end of 2009, titled House Prices In America, Sarasota area home prices are 27% undervalued and Tampa area home prices are 20% undervalued.
In the report, IHS deemed the country as a whole slightly undervalued. When all of the 330 metro areas are weighted by market value, the nation is 8.9% undervalued. When weighted by housing units, the nation is 10.3% undervalued. House prices fell during the fourth quarter of 2009 by only 0.1% in quarter-over-quarter terms (1.2% year-over-year), according to the Federal Housing Finance Agency (FHFA). This decline, which comes after the first increase in 2 years in the third quarter, indicates that the housing market is still working towards - and is close to achieving - stabilization.
Steve Eckhardt, Broker, Luxury Real Estate Professional
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