The seasonal cycle is also evident as the real estate market is typically busiest in the spring and summer months and slows down in the late fall and winter months.Īverage Days on Market Chart by Price Range for Homes in Arlington, Texas You can call us directly at (972) 978-3553 or send us a message 24/7 via the contact form by clicking the button below and we will reply promptly!Ĭontact Us About Arlington! Median Original List Price Chart for Homes in Arlington, TexasĪverage Days on Market Chart for Homes in Arlington, TXĪs prices have risen in Arlington, the average days on market has dropped significantly. If a price correction does come, the Dallas Fed says it won't be as painful as the one during the 2008 era.Are you thinking about buying or selling a home and need a great real estate agent in Arlington? Why not work with the BullardJones Group and get two highly-experienced agents for the price of one! All of our agents have experience listing and selling homes in Arlington and we would love the opportunity to work with you. housing market has become detached from economic fundamentals, the split isn't underpinned by shady mortgages. Additionally, we aren't in a subprime lending bonanza. While the market is "overvalued" by historical measures, Zandi says, this isn't a FOMO-driven bubble like the early 2000s housing market. In order to get the housing bubble label, the market would need to experience both home price overvaluation and speculation in the market. That includes Austin (overvalued by 41%), Dallas (33%), Houston (28%), and San Antonio (25%).īut Moody's Analytics chief economist Mark Zandi says we're not living in Housing Bubble 2.0 just yet. The finding? Of the 392 metropolitan statistical areas it measured, 149 are overvalued by at least 25%. The firm aimed to find out whether local income levels could support local home prices. Fortune recently asked Moody's Analytics for its proprietary analysis of U.S. It isn't just Florida Atlantic University researchers who've found the Texas housing market is getting out of whack. Only Boise, Idaho, was overvalued by more, at 75%.įlorida Atlantic University's latest reading for Austin, which finds it overvalued by 66%, places the state in the same bracket as the university's March 2007 reading for Sunbelt markets like Phoenix (59%), Las Vegas (72%), and Miami (76%). That’s 66% above the $354,600 limit that the Florida Atlantic University researchers say is supported by underlying economic fundamentals. The median home in Austin is worth $589,600. But this time around Texas is front and center of the surging cost in housing.Įach month, researchers at Florida Atlantic University calculate how “overpriced” or “underpriced” home prices are in America’s 100 largest housing markets, as measured against the local market’s “ historical implied price.” Their latest reading, which uses March data, doesn’t look great for Texas.Īmong the regional housing markets Florida Atlantic University measured, Austin is the second most overvalued housing market in the nation. home prices have risen 19.8% over the past year, which is more than four times greater than income growth during the same period. is once again amid a housing boom that has set home prices out of reach for many buyers. That hard line helped the state escape the sharp 2008 home price correction and subsequent foreclosure crisis that plagued Sunbelt markets like Phoenix and Tampa after the crash.įast-forward to today, and the U.S. While zealous lenders across the nation were allowing borrowers to take on mortgages while putting little to nothing down, Texas stuck with its conservative lending practices. The Sunbelt housing meltdown had one big exception: Texas.
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