Homes in 97% of U.S. cities are overvalued, Moody's says

Home values in 97% of U.S. cities are overvalued, and real estate in some of the most overpriced regions could fall by 10% over the next few years, according to Moody's Analytics.

The pandemic has boosted home prices in parts of the country far beyond the typical coastal hot spots, Moody's chief economist Mark Zandi said in a new analysis. The most overpriced city in the nation is Boise, Idaho, which became a magnet for technology workers who wanted to relocate from pricey California cities when their offices shut due to the pandemic. By Moody's reckoning, Boise's homes are 73% overvalued, making it the most overpriced city in the nation.