Boston Housing Prices Getting Closer to Decline

Housing markets ranked by risk of price declines – Aug. 4, 2005

NEW YORK (CNN/Money) – Some of the nation's frothiest housing markets are at growing risk of price declines, according to the most recent survey from PMI Mortgage Insurance Corporation.

The PMI Risk Index is based on economic activity and other conditions that PMI thinks are predictive of home-price declines over the next two years.

Factors used to derive the index include home prices, employment conditions and the affordability of homes.

At a 55.3 percent chance, the index singles out Boston as the area most at risk for a decline. That's up from 53.4 percent three months earlier.

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