Homes in the Dallas-Ft. Worth market are overvalued, according to Fitch Ratings. The Dallas Morning News reports:
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.
