27 Mar Are Chicken Little analysts right about Dallas home prices?
By now you may have heard that the sky is falling on the Dallas housing market. Tens of thousands of folks have read my report about Wall Street firm Fitch Ratings’ warning about Dallas-area home prices being overvalued. It’s not the first time out-of-state analysts have raised the red flag on the rate of home price growth in North Texas. Fitch has been alarming about our residential values for three years.
The rise in prices has been stunning. Median home sales prices in the area have jumped by almost 80 percent in the last decade. And prices of preowned single-family homes are almost 60 percent ahead of where they were in the last real estate boom in the early 2000s. Obviously growth of wages and income in the Dallas area isn’t rising nearly as fast. That’s why analysts like Fitch Ratings are fretting. I get where they are coming from.
Read More Via DallasNews.com
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