Industry NewsMarkets & Economy

Mortgage insurer IDs weak markets

60% of largest metros at risk of price declines
Published on Jul 8, 2009

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by CareyBot

Thirty of the nation's 50 biggest metro areas have a greater than even chance of seeing lower house prices by the end of March 2011, according to an analysis by mortgage insurer PMI Group Inc.

PMI's market risk index -- which is based on price-appreciation trends, affordability, unemployment, interest rates and local economic conditions -- projects that 46.7 percent of 381 metropolitan statistical areas (MSAs) are at risk of price declines in the next two years.