People walk by a sold sign in front of a house along the Erie Canal in Pittsford, New York, on Monday, Sept. 6, 2021.

Home-buying is finally cooling off, but you can still check out where buyers have shelled out the most. 
The data comes from a monthly study from Florida Atlantic University and Florida International University
It calculates the most “overvalued” housing markets out of 100 US cities. 

The housing market looks like it’s slowing down, but you can still check out the latest data that shows where buyers are “overpaying,” according to one study.

A monthly data drop late last month from Florida Atlantic University and Florida International University calculates where buyers are shelling out big for homes in the largest 100 US cities. 

It uses data from April and calculates where buyers are paying the largest “premiums” for homes.

RealEstate Agent.com defines premiums in real estate as how much people are spending over the “expected prevailing price.” 

“The high cost of housing across the country is playing out in once-remote markets and major metropolitan areas,” the release added. 

Cities like New York and San Francisco are not high on the list for being expensive “because homes in those two metros still are selling relatively close to where they should be, based on historical trends,” it said. 

Here are the top 10 cities where these researchers calculated buyers are overpaying the most. The percentage reflects how “overvalued” each market is. 

1. Boise, Idaho: 72.64% overvalued

Boise has been a hot destination for Californians and apparently, millennials. Home prices skyrocketed as a result, and they’re are just starting to level off a bit, Bloomberg reported. 

2. Austin, Texas: 67% overvalued 

One real estate consultant, Nicholas Gerli, calculated Austin housing costs have gone up 93.5% in the last two years, Insider previously reported. He obtained the figure by measuring how much annual housing payments went up, using increases in mortgage payments and property taxes.

Austin has been a desirable relocation spot for tech companies for years. 

3. Ogden, Utah: 64.73% overvalued

Ogden is about 40 miles from Salt Lake City. 

4. Las Vegas, Nevada: 61.48% overvalued 
Las Vegas, Nevada.

Tourism in Las Vegas suffered during the earlier parts of the pandemic, but its housing market boomed. It’s only just started to peter out, Fox5 reported Tuesday.

5. Atlanta, Georgia: 58.01% overvalued 
Homes in Midtown Atlanta, GA.

In Atlanta, …read more

Source:: Business Insider

      

Here are the top 10 most overpriced housing markets in the US right now, including Boise, Idaho and Austin, Texas

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