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Top 20 metros at risk of price declines

PMI report shows less risk in 75% of markets in Q1

The risk of price declines in the next two years declined during the first quarter in 75 percent of 384 markets tracked by PMI Mortgage Insurance Co., including 40 of the 50 nation's most populous metro areas.PMI's latest Economic and Real Estate Trends report found that despite the improvements in many markets, slightly more than half of all metros tracked -- 198 -- still faced an elevated or high risk of price declines. Among the nation's 50 most populous metros, the percentage of markets at risk was even higher -- 70 percent, up from 68 percent in fourth-quarter 2009.Metros with an elevated or high risk of price declines typically had higher unemployment rates, higher new foreclosure rates, lower affordability, a larger excess housing supply, and more volatile house prices.The 20 riskiest housing markets identified by PMI, and the estimated probability that they will see price declines in the next two years, were:1. Miami-Miami Beach-Kendall, Fla. (99.9)2. Las Vegas-Paradise, Nev. (...