Homes in South Florida are overpriced in relation to the region's overall economy, though that doesn’t necessarily mean the housing market is headed for another tumble, a new report shows.
As of the third quarter of 2015, Broward County homes were overvalued by 10 to 15 percent, while Palm Beach County properties were 5 to 10 percent above value, according to Fitch Ratings, a global statistical ratings organization that researches housing markets for investors. Homes in Miami-Dade County were overvalued by 15 to 20 percent, matching Phoenix, Riverside, Calif., and San Francisco as the most overpriced regions among the largest metro areas nationwide.
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