Probably people getting out of blue states. The demand has been so high, it's now nowhere near the prices you could get just a few years ago. I remember looking at some properties in Florida about five years ago, and there tons of high-end homes in the $300K range.
- Florida now contains five of the 10 most overvalued cities in the US, thanks to hoards of newcomers in recent years.
- Tampa, Florida is now the third most overvalued housing market in the country, with buyers paying a 43% premium.
- Prices are unlikely to pull back soon, researchers said, making affordability a "key issue."
MSN
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