CoreLogic: Most Cities Shortlisted for Amazon’s Second Headquarters Are Already “Hot” Housing Markets

—More Than Half of Potential Cities Have “Overvalued” Housing Markets—

IRVINE, Calif. — (BUSINESS WIRE) — January 18, 2018 — CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today revealed its analysis of the housing economy in cities* being considered for Amazon’s “second headquarters” location.

CoreLogic monitors the health of the housing economy through historic home price changes and other market conditions including sustainability of prices in the market, referred to as the CoreLogic Market Condition Indicators (MCI). The MCI analysis defines an overvalued housing market as one in which home prices are at least 10 percent higher than the long-term, sustainable level, while an undervalued housing market is one in which home prices are at least 10 percent below the sustainable level.

City or Region

     

CoreLogic HPI YOY

     

CoreLogic MCI

Atlanta, GA       6.26%       Normal
Austin, TX       4.82%       Overvalued
Boston, MA       6.66%       Normal
Chicago, IL       3.65%       Normal
Columbus, OH       7.44%       Normal
Dallas, TX       6.39%       Overvalued
Denver, CO       8.12%       Overvalued
Indianapolis, IN       5.47%       Undervalued
Los Angeles, CA       7.46%       Overvalued
Miami, FL       3.72%       Overvalued
Montgomery County, MD       2.78%       Overvalued
Nashville, TN       8.17%       Overvalued
Newark, NJ       2.60%       Normal
New York City, NY       3.32%       Overvalued
Northern Virginia, VA       3.68%       Overvalued
Philadelphia, PA       6.26%       Normal
Pittsburgh, PA       2.11%       Undervalued
Raleigh, NC       4.81%       Normal
Toronto, ON*       N/A       N/A
Washington D.C.       3.68%       Overvalued

Source: CoreLogic, November 2017
*CoreLogic does not monitor the Toronto, Canada market


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