Some States Rank High on ‘Housing Misery’ Index
August 23, 2012
Are some housing markets still suffering from the blues? Trulia’s Housing Misery Index takes into account the percentage of change in home prices from a state’s peak during the last decade compared to today as well as the percentage of mortgages that are either severely delinquent or in foreclosure.
While the housing market continues to pick up across the country, some housing markets still rank high on Trulia’s Housing Misery Index. The top four states:
In those states, home prices are 40 percent below their peak, according to the report. In Nevada, home prices are nearly 60 percent below their peak. Meanwhile, Florida dominates as the state with the highest number of home owners who are either delinquent or in foreclosure.
Other states also ranking high on the Housing Misery Index are Michigan, Illinois, Georgia, Maryland, New Jersey, Idaho, Washington, and Oregon.
On the other hand, Texas mostly escaped housing misery, according to the index. Home prices in Texas are no lower now than they were during the housing bubble. Also, few homes are delinquent or in foreclosure in the state.
Source: “Housing Misery in the Swing States,” Trulia Trends (2012)
Updated: October 15, 2019