Dallas-Fort Worth is one of most overvalued home markets in the country, a top Wall Street analyst warns.
In it most dire warning yet about the rate of North Texas home price gains, Fitch Ratings says that home prices in the D-FW area are as much as 19 percent overstated.
"The Dallas housing market has shown the most significant overheating in the last two years and is now 15 percent to 19 percent overvalued," Fitch managing director Grant Bailey said in a new report. "Overvalued markets are more likely to experience a slowdown in price growth, or a price correction."
Fitch Ratings has been warning about overheating in the local real estate market since 2015.
During that time the analyst’s estimate of overvaluation has steadily increased.
"Fitch estimates that approximat...Read More