PMI Mortgage Insurance Co. said Tuesday that it expects home prices to fall through March of 2011 in most of the nation's largest cities.
Based on their Second Quarter 2009 Economic and Real Estate Trends Report released today, 85 percent of the cities are facing increased risk of lower home prices in 2011. The risk is now spreading throughout the nation. The Nashville Metro area is rated in this report as a LOW RISK area. PMI uses economic, housing, home price appreciation, employment, affordability, excess housing supply, interest rates, and foreclosure activity to determine these probabilities.