Phoenix Shows Low Risk Of Housing Price Decline

The Phoenix Business Journal reports that PMI Group out of California ranks the Valley 34th out of the top 50 U.S. markets as having the risk of housing price declines. The top three markets most likely to experience a housing price decline are Boston, Long Island and San Diego.

"The latest PMI Market Risk Index numbers show that house price risk continues to be concentrated along the coasts, as it has been for some time," said Mark Milner, chief risk officer with the PMI Mortgage Insurance Co. The PMI US Market Risk Index is published quarterly by PMI Mortgage Insurance Co. More...