The PMI Mortgage Insurance Co. just revised its 2007 U.S. Market Risk Index (New Market, New Model, Mark F. Milner, Chief Risk Officer, PMI Mortgage Insurance Co., Summer, 2007) ranking the 50 largest metropolitan statistical areas by the likelihood that home prices will be lower in a couple of years.
Riverside, Calif.; Phoenix; Las Vegas; and West Palm Beach, Fla. came in high in the MSA index. On the other hand, Texas, Ohio, Indiana, and Pennsylvania MSAs made up the lowest ranked group — or those dealing with a less than 10 percent chance of declining home prices.
The Full 12 Page Report Can Be Viewed On-Line:
http://www.pmi-us.com/media/pdf/products_services/eret/pmi_eret07v2s.pdf
Source: Daily Real Estate News Realty Times, Blanche Evans (06/20/07).