South Florida homes overvalued, report says

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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