A list of declining housing markets in the United States was released today by Credit Suisse, based on three criteria taken from a Uniform Residential Appraisal Report, including:
- Property values listed as “declining”
- Demand/supply listed as “over supply”
- Marketing time listed as “over 6 months”
Below is the list of metros throughout the United States that met at least one of the above criteria. All properties within these metropolitan areas will be subject to more thorough valuation inspections because of their perceived higher risk:
- Ames, IA
- Anderson, IN
- Battle Creek, MI
- Cambridge-Newton-Framingham, MA
- Canton-Massillon, OH
- Carson City, NV
- Cleveland-Elyria-Mentor, OH
- Danville, IL
- Detroit-Livonia-Dearborn, MI
- Flint, MI
- Grand Rapids-Wyoming, MI
- Jackson, MI
- Kokomo, IN
- Lansing-East Lansing, MI
- Mansfield, OH
- Monroe, MI
- Muskegon-Norton Shores, MI
- Reno-Sparks, NV
- Sacramento-Arden-Arcade-Roseville, CA
- Saginaw-Saginaw Township North, MI
- San Diego-Carlsbad-San Marcos, CA
- San Luis Obipso-Paso Robles, CA
- Santa Barbara-Santa Maria-Goleta, CA
- Santa Rosa-Petaluma, CA
- Springfield, OH
- Vero Beach, FL
- Waco, TX
- Warren-Troy-Farmington Hills, MI
- Yuba City-Marysville, CA
The metropolitan areas that made the list aren’t necessarily startling. Much of unfashionable Michigan and Ohio made the list, as well as areas that saw unsustainable growth such as Reno and Carson City, NV. Perhaps the most surprising is the relative weakness throughout many areas in California.
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