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NuWire Investor Ranks Top 5 Overbuilt Markets for 2007

uWire Investor, an online financial news publication, recently released its rankings of the Top 5 Overbuilt Markets for 2007.

The list was compiled from the top 75 U.S. Metropolitan Statistical Areas, according to the U.S. Census. Rankings were based on new housing permit starts, MLS standing inventory, single- and multi-family vacancy rates, days on market and area population growth.

All five markets are in the southeastern or southwestern portions of the country, with three Florida cities making the list. While these sun-soaked locales are experiencing a significant slump, most will recover with time. Las Vegas is likely to recover the fastest, based on population growth and absorption rates, but the other cities were all overbuilt for a reason--they are attractive to baby boomers and thus developers.

The Top 5 Overbuilt Markets are:

1. Las Vegas, Nevada

2. Phoenix, Arizona

3. Orlando, Florida

4. Miami, Florida

5. West Palm Beach, Florida

To view the full rankings, visit www.NuWireInvestor.com.

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