D-FW home prices are overvalued by 10% to 14%, according to Fitch Ratings.
Still overvalued — that’s the latest assessment of the Dallas housing market by one of Wall Street’s big ratings firms.
Dallas-Fort Worth home prices are 10% to 14% ahead of where they should be, according to the latest report by Fitch Ratings.
D-FW is one of six major U.S. metro markets where Fitch said that home prices were overheated in its second-quarter survey.
“Fitch estimates that home prices in approximately 18% of the country’s metropolitan areas are more than 10% overvalued,” the new analysis says. “Close to one-half of these counties are in Texas, Florida and California.
“Among the top 50 most-populated metropolitan areas, San Antonio, Austin and Las Vegas are estimated to be more than 20% overvalued.
“Fitch Ratings estimates that national home prices are currently 1.4% overvalued on a population-weighted average basis.”
The Wall Street analyst looks at home prices and economic conditions in the country’s 20 largest markets for its quarterly Sustainable Home Price report.
The D-FW area has been on Fitch’s home price watch list for several years now.
By Steve Brown
11:32 AM on Sep 19, 2019