Title insurance giant PMI Group’s quarterly metropolitan area risk list covers 381 markets, and ranks them according to the probability of real estate price declines during the next 24 months.
PMI forecasts further drops in values in speculator-driven markets that haven’t quite finished their downward cycle. These areas include Riverside-San Bernadino (CA), Miami and Miami Beach, Fort Lauderdale, Los Angeles, West Palm Beach, Las Vegas, Tampa-St Pete, Orlando, Anaheim and Jacksonville, Florida.
The least risky markets to put your investment dollars if you want to avoid short-term valuation losses, according to PMI: Texas dominates the list with Dallas, Ft. Worth, Houston and San Antonio all in the top five. But Pittsburgh, Charlotte, Cleveland, Denver and Indianapolis also are among the safest bets to grow property values in the next 24 months.