July 21, 2017
Anyone who’s been reading about housing prices in the Dallas-Fort Worth area – or who is trying to buy a house in the area – understands one thing. Namely, single-family housing prices keep going up. Now, New York-based Fitch Ratings has indicated that DFW home prices are 10%-14% higher than what’s sustainable.
In its just-released “U.S. RMBS Sustainable Home Price Report,” Dallas’ year-over-year percentage price change increased by 6.6%. In fact, the report also pointed out that housing prices throughout Texas were unsustainable, over time.
“Dallas home prices are driven by solid income growth and low unemployment, so the economy is certainly strong, but price growth is still just too fast,” said Fitch’s Grant Bailey. The report also indicated that housing prices rose rapidly in Western metro markets including Colorado, Oregon and Washington.
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