Real Estate Alert: The Texas City with the Most Overvalued Properties Revealed
Buying a property in Texas is getting increasingly harder, with real estate prices increasing, but some cities in Texas represent better value than others.
A recent study researched the top 100 most overvalued housing markets in the United States.
According to the study, the most overvalued property market in Texas was found to be Dallas, which was 27.83% overinflated. This is a significant rise from June 2017, when Dallas was found to be undervalued by 0.27%.
Behind Dallas was El Paso, where properties were overvalued by 25.27%.
Other Texas cities included in the research were:
- Austin (21.56%)
- McAllen (21.31%)
- Houston (20.13%)
- San Antonio (18.61%)
According to a new study by Zillow, Texas has the country's fourth most valuable real-estate market.
"Despite the presence of higher mortgage rates, which deterred some home shoppers and kept many existing homeowners on the sidelines, enough buyers remained to keep the market moving." Orphe Divounguy, senior economist at Zillow
Do you think housing prices are too expensive in Texas? How is this impacting you? Are you concerned there are too many people moving to Texas and driving up prices?
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