Southwest Florida Is the US' Most Overvalued Housing Market

The Southwest Florida region is the most overvalued housing market in the US, according to researchers at Florida Atlantic University and Florida International University, with hurricane-ravaged Cape Coral-Fort Myers surpassing Boise as the market selling at the highest premium.

The academic researchers note that at the end of August, buyers in that southwest Florida metro — which was battered by Hurricane Ian in September — are paying an average of 70.43 percent above the area’s long-term pricing trend. Average home prices there are $429,775, but should be selling for $252,176, based on statistical modeling of past sales.