6 global cities most at risk of being in a real-estate bubble, according to UBS

• UBS's 2024 Global Real-Estate Bubble Index shows a decline in bubble risks over the last 12 months.
• Only six cities are now at elevated or high risk, down from 16 last year.
• Miami and Los Angeles are the two US cities most at risk of a housing bubble, the report said.

UBS released its 2024 Global Real-Estate Bubble Index report last week, and it showed bubble risks have generally declined over the last 12 months.

While 16 cities worldwide were considered to be at elevated or high risk of a real-estate bubble last year, just six cities fit that description today, the report said. That's thanks to falling home prices in many cities that were considered overextended in 2023.