The 10 Housing Markets In America That Are Still Wildly Overvalued

If you lived in Florida or the Southwest, then you probably got destroyed in 2007. But at least you got the bandaid off.

Lesser real estate markets that thrived in the shadow of boomtowns are still riding high on the bubble, according to a report by IHS Global Insight.

That’s why the new housing bubble is in places like Washington and New Jersey.

Missoula, MT — 14.5% overvalued

Missoula, MT -- 14.5% overvaluedImage: Zillow

Average home price
Bubble: $240k

Today: $226k

Ideal: $197k

Would you buy this $229,900 home?

Source: IHS Global Insight

Portland, OR — 15.2% overvalued

Portland, OR -- 15.2% overvaluedImage: Zillow

Average home priceBubble: $306k

Today: $262k

Ideal: $227k

Would you buy this $269,900 home?

Source: IHS Global Insight

Duluth, MN — 16.5% overvalued

Duluth, MN -- 16.5% overvaluedImage: Zillow

Average home priceBubble: $122k

Today: $121k

Ideal: $104k

Would you buy this $129,900 home?

Source: IHS Global Insight

Asheville, NC — 16.6% overvalued

Asheville, NC -- 16.6% overvaluedImage: Zillow

Average home priceBubble: $174k

Today: $168k

Ideal: $144k

Would you buy this $185,000 home?

Source: IHS Global Insight

Bellingham, WA — 21.4% overvalued

Bellingham, WA -- 21.4% overvaluedImage: Zillow

Average home priceBubble: $302k

Today: $278k

Ideal: $229k

Would you buy this $300,000 home?

Source: IHS Global Insight

Longview, WA — 21.8% overvalued

Longview, WA -- 21.8% overvaluedImage: Zillow

Average home priceBubble: $213k

Today: $182k

Ideal: $149k

Would you buy this $185,000 home?

Source: IHS Global Insight

Grand Junction, CO — 24.6% overvalued

Grand Junction, CO -- 24.6% overvaluedImage: Zillow

Average home priceBubble: $214k

Today: $204k

Ideal: $164k

Would you buy this $209,000 home?

Source: IHS Global Insight

Wenatchee, WA — 26.2% overvalued

Wenatchee, WA -- 26.2% overvaluedImage: Zillow

Average home priceBubble: $256k

Today: $239k

Ideal: $189k

Would you buy this $247,000 home?

Source: IHS Global Insight

Ocean City, NJ — 31.7% overvalued

Ocean City, NJ -- 31.7% overvaluedImage: Zillow

Average home priceBubble: $321k

Today: $298k

Ideal: $226k

Would you buy this $299,000 home?

Source: IHS Global Insight

Atlantic City, NJ — 33.2% overvalued

Atlantic City, NJ -- 33.2% overvaluedImage: Zillow

Average home priceBubble: $258k

Today: $228k

Ideal: $171k

Would you buy this $229,000 home?

Source: IHS Global Insight

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