PMI sees less risk of price declines in most major markets

Housing markets that didn't experience steep run-ups in prices during the housing boom are starting to show a reduced risk of price declines in the next two years, according to a risk index published by PMI Mortgage Insurance Co.

The chance that housing prices will be lower in two years declined in 32 of the 50 largest U.S. housing markets during the fourth quarter, PMI said. That's an abrupt turnaround from the third quarter, when PMI said the risk of price declines increased in 39 of the 50 largest markets.

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