Overvalued housing markets in area may get worse with Ian

Still reeling from the impact Hurricane Ian had on the state, the housing market in Southwest Florida has been dubbed as the nation’s most overvalued market by researchers at Florida Atlantic University and Florida International University. 

A press release from the Florida Atlantic University College of Business states the Cape Coral and Fort Myers metropolitan areas blew past the former highest premium area of Boise, Idaho. Based on statistical modeling of past sales, properties should be selling for $252,176. But right now, the average is $429,775.