Are Carmel, Indiana Home Prices Declining?

Rising Foreclosures and Unemployment Intensify Risk of Future Home Price Declines

In yet another study, increases in foreclosures and unemployment have significantly heightened the risk of future home price declines according to PMI Mortgage Insurance Company's Fall 2008 U.S. Market Risk Index, based on second-quarter Office of Federal Housing Enterprise Oversight (OFHEO) data.   Among the top 50 MSAs, 17 ranked in the highest risk category and 16 of those were in California, Florida, Nevada and Arizona.  The good news: If you're in the following markets, you'll not only have better housing affordability; but prices seem to have stabilized and foreclosures aren't rising.   1.   St. Louis, MO-IL  2.   Milwaukee-Waukesha-West Allis, Wis.  3.   Charlotte-Gastonia-Concord; NC-SC    4.   Denver-Aurora, Colo.                 5.   Indianapolis-Carmel, Ind. 6.   Memphis, TN-MS-AR     7.   San Antonio, Texas    8.   Pittsburgh, Penn.             9.   Houston-Sugar Land-Baytown; Texas 10. Dallas-Plano-Irving, Texas Source: Daily Real Trends- Carmel, IN