A report by Fitch Ratings showed that Texas is home to the most overvalued home prices in the country.
Despite reports that the housing market in the Lonestar state is on the road to recovery, the report by Fitch suggested that prices are approximately 11 percent overvalued as prices in Austin, Dallas and Houston have continued to grow by more than 20 percent since 2011. Home sale prices in the Dallas-Fort Worth area grew at record levels in 2014 and were more than 15 percent higher than at the market’s peak just before the housing crisis.
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