Sixty-five of the nation's 299 biggest real estate markets are severely overpriced and subject to possible price corrections, as published on CNN Money in an article on January 3, 2006.
Housing experts say Texas is bucking a national trend in real estate. Investors are flocking here when sales are slow across the country. Nationally, sales of existing homes are expected to fall a little more than four percent this year, according to the National Association of Realtors.
But Travis County is booming. Housing experts say land in Texas is undervalued and is more affordable compared to states such as California and Florida. An estimated 269,000 Texas homes were sold in 2005 - a 34 percent increase from 2002.
Property is being bought by out-of-state investors looking to get a lot more house for their money. Analysts say Texas has nine of the 10 most undervalued housing markets in America, including Bryan-College Station, El Paso, Killeen, Dallas, Beaumont and Fort Worth. Naples, Florida, is the most overvalued market, where houses cost 84 percent more than what they should.
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