Bend's Home Prices Slide, But May Still Be Overvalued

By Geoff Norcross and Ethan Lindsey | March 10, 2009 8:41 a.m. | Updated: June 16, 2010 11:59 p.m. | Portland, OR

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A year ago this week, we learned that Bend was the most overvalued home market in the country.

In fact, according to that research from National City Bank, at its peak, the average home in Bend overvalued by 78%.

Homeowners there can confirm that research. Today, the city's foreclosure rate is sky-high, and most homes have lost value.

Let's get an update from Ethan Lindsey. He's OPB's Central Oregon correspondent.

Oregon Public Broadcasting