Forbes thinks Baltimore is 4th most overpriced
Forbes, which loves lists, has one that no metro area -- or at least the home sellers in metro areas -- would want to appear on: "Where U.S. homes are most overpriced."
Baltimore is No. 4, behind Orlando, Miami and Jacksonville, all in Florida.
This list, unlike others I've seen, is about asking prices. Forbes ranked the 40 largest metro areas by looking at the percentage of homes with price reductions ("an indicator of inflated pricing"), days on the market, asking price vs. the price of homes when they went off the market and -- finally -- the Moody's Economy.com price forecast.
Baltimore came out fourth even though it didn't rank in the top five on any of those measures. Go figure.
The subject of asking prices and whether they're too high (or really too high) is a perennial one among buyers. What's your perception of asking prices in the parts of the Baltimore metro area you're paying attention to? Have things improved in the last year? What impact has the $8,000 tax credit had, if any?
Tip of the hat to Christopher Cruise for noticing the Forbes piece.