NEWS ANALYSIS

Last week, Fortune Magazine posted a story with an intriguing headline:

“These are the most overvalued housing markets in the US.”

The photo on the story, of course, shows the Boise skyline.

According to a study from Florida Atlantic University and Florida International University, the Boise housing market is the most overvalued in the country – with homes in the area selling 80% above past values.

The study itself ranked the top 100 largest metro areas in the US. The complicated formula used data from the Zillow Home Value Index to look at the current prices of houses as compared to the past 25 years.

As you know, home prices in the Boise area rose very quickly in the past several years, and accelerated in the wake of the COVID-19 pandemic.

‘The word overvalued was misued’

Tracy Kasper, a local real estate broker who will take the president title for the National Association of Realtors in 2024, cast…

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