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Several major housing markets in the South and in Texas are short on homes at a price point that buyers are looking for.
Trulia recently released a list of the most mismatched housing markets, reports CNBC. Markets that are mismatched have a disproportionate amount of people searching for homes at one price, but finding more homes available at a different price.
In Dallas, the nation’s most mismatched market, 18.1 percent of searches are for starter homes, and 32 percent are for trade-ups. More than three-quarters of the market’s listings are premium homes, though.
The list of mismatched markets includes Charlotte and Raleigh, N.C., Tampa and Daytona Beach, Fla., and other Texas cities including Houston, San Antonio, and Fort Worth.
If a market is mismatched, buyers are more likely to get into bidding wars and either pay too much or be forced to drop out. The more matched a market, the more likely buyers are to find the home they want. A market can be expensive but still well matched, which simply means that the type of buyers out shopping are comparable to the listings available.
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