Market price

Volusia property market price correction not likely

BEACON PHOTO/JOE CREWS

In a recent article, Fortune Magazine asked real estate research firm CoreLogic to provide its assessment of the country’s largest regional housing markets.

The company looked at 392 U.S. markets in April and found that 17 regional real estate markets had more than a 40% chance of seeing local home prices decline over the next 12 months.

To determine the likelihood of lower home prices in the region, the real estate research firm assessed factors such as income growth projections, unemployment forecasts, consumer confidence, debt-to-income ratios, affordability, mortgage rates and inventory levels.

Housing markets have been grouped into five categories based on the likelihood of home prices in that particular market falling over the next 12 months. The Deltona-Daytona-Ormond market showed a 0-20% chance of lower prices over the next year.

Send us your news — We want to hear from you about your business. Email news and photography to [email protected] Please include a contact number. When sending photos, please send uncropped high resolution files and identify the people photographed.

– Compiled by editor Joe Crews