The Treasure Coast of Florida has some of the most undervalued houses in the nation. Vero Beach is running a close second just behind Las Vegas and Port St Lucie came in rank as #6. This comes from the IHS Global Insight Report for the 3rd quarter of 2009. Global uses home values in 330 markets and various combinations of interest rates, population, and median sales prices to come up with the undervaluation of pricing.
IHS began it s research statistics in 2005 and this is the first year that no metro areas came up as overvalued. In 2006 there were 52 regions that were considered overvalued. Per IHS the nation as a whole is now undervalued by about 10%. Many areas have seen what is to be considered an over correction to the previous inflation of prices.
Some areas of the Treasure Coast do seem to be steadying and with a lower inventory some prices are even increasing in high demand homes. This may be a temporary trend as more foeclosures are in the forecasts.
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