6 states with the biggest real estate bubbles

http://www.msn.com/en-us/money/realestate/6-states-with-the-biggest-real-estate-bubbles/ar-BBw4Mmc?li=BBnb7Kz#page=6

Well, we made this list, not sure its a good one however in Collier Co we have been seeing pending and closed sales down significantly. It has been pretty crazy in the past 2 years now that it is slowing down some people are worried - I just hope it is the market finally leveling off to normalcy.


5. Florida

Florida — along with California, Nevada and Arizona — comprise what’s called the “sand states,” all of which were deeply impacted by the housing bubble and crash. Recently, home prices have crept back up, thanks to hot housing markets. But some cities are showing signs of trouble.

“Florida has frequently been the site of real estate bubbles in history,” said Villa. “In recent years, a big part of Florida’s recovery was thanks to an influx of foreign investment in real estate.” Unfortunately, those streams of money are drying up, he said.

In Miami, the once-hot real estate market is exhibiting a cooling off, reported The Miami Herald in July. Citing data from a Miller Samuel Real Estate Appraisers & Consultants report, second-quarter 2016 saw a decrease in home sales, including condos and single-family homes. Also telling: There has been an increase in the number of active listings, and homes are sitting unsold on the market for much longer in Miami and Miami Beach.

And if speculation — or buying and flipping houses just for the money — is one of the signs of a real estate bubble, then Florida could have a problem. A number of Florida cities saw the biggest year-over-year increase in the share of flips, according to RealtyTrac, with the Miami metro area featuring the most homes flipped of any market in the nation in 2015.