Las Vegas has the most undervalued housing market in the nation says a report from IHS Global Insight and PNC Financial Services. According to the report, Las Vegas is 41 percent undervalued. Nationally, 242 of the 299 largest housing markets are selling for prices that even bankers think are less than fair market value. The report uses a comparison of median home prices, interest rates, population densitites and income, as well as historic data.
It’s nice to be No. 1 in something other than foreclosures!