"The housing market boom continues to gain momentum. However, some markets show signs of potential instability," said Attom CEO Rob Barber.
"It's a dream come true for first-time buyers hoping for a bargain, but a nightmare for current homeowners basking in sky-high property values."
According to research from property-data firm Attom, states like California, New Jersey and Illinois have the most counties likely to see prices take a nosedive.
In Florida, the condo market is in full-blown crisis mode. Owners, looking to offload their properties, are slashing prices - sometimes by nearly 40% - to avoid getting stuck with massive repair bills.
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