Wooden house figure and price tag The most overvalued metro in the nation among the 50 with the highest populations was Memphis, including the Tennessee-Mississippi-Arkansas statistical area. (Photo: Andrii Yalanskyi/Adobe Stock)

U.S. home prices are overvalued by more than 10% in some areas, according to a recent report from Fitch Ratings. In 4Q23 homes in the U.S. were overvalued by 11.1% on a population-weighted average basis – though prices may moderate later in the year.

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