Trulia’s Bubble Watch reported that home prices are still 2 percent undervalued overall and homes in the majority of the country’s largest metros are less than 10 percent over- or undervalued.
When the housing market peaked during the first quarter of 2006, home prices were 34 percent overvalued before they fell to 14 percent undervalued during the first quarter of 2012. In 2013, home prices were 5 percent undervalued before rising last year. The most undervalued metros include Cleveland; Akron, Ohio; Dayton, Ohio; Lake-Kenosha Counties, IL - WI; and New Haven, Connecticut.
