National City Corp says Naples 82.3 Percent Overvalued
Leading Lender Says Naples Market Grossly Over Priced
National City Corp.’s latest quarterly study says that 38 percent of the top 299 metro housing markets "are extremely overvalued and at risk for a price correction."
National City says the Naples real estate market is 82.3 percent overvalued.
Other "extremely overvalued" Florida markets include Port St. Lucie (68.1 Percent), West Palm Beach (56.9 percent), Sarasota (55.6 percent), Miami (55.3 percent), Vero Beach (54.3 percent) and Fort Lauderdale (52.8 percent).
We’ll keep watching, but Cape Coral/Fort Myers Florida does Not appear to be on their list
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