Texas Homes Overvalued, Says Wall Street FirmTexas Homes Overvalued, Says Wall Street Firmhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=98802015-08-13T14:59:00Z2015-08-14T00:00:00Z

Prices are most overvalued in Austin, by 20.6 percent. In San Antonio, prices are 19.8 percent ahead of where they should be. In Houston, they're 14.7 percent overinflated.

Meanwhile, in North Texas, prices are growing at a percentage rate of almost three times long-term averages.

Through the first seven months of 2015, North Texas median home sales prices are 11 percent ahead of where they were the same time last year, according to data from local real estate agents.

"It is likely to take some time for prices to return to sustainable levels, though we’ve started to see a significant slowdown in growth, especially in Houston," said Stefan Hilts, one of the authors of Filch Ratings' report. "We’re likely to see prices moving slowly back toward sustainable levels in the next several years."

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