The Austin American Stateman, showed that Austin is one of the best markets for buying undervalued real estate. The article went on to say that many of the markets in the rest of country offer overvalued home prices. Austin however is still showing solid appreciation.
This information was deciphered by Global Insight Inc. and National City Corp. They looked at the home prices of over 300 metro areas. Their analysis included a complex model of prices, interest rates, incomes and population densities.
Austin was unique because it did not have the run away home price increase that was seen in the rest of the country. because of this Austin avoided the real estate bubble disaster that many other areas are facing.
Global Insight Inc. and National City Corp considers that if an area’s housing market is over or undervalued by up to 14 percent than it is within the fair market range anything outside of is considerable under or overvalued. According to this analysis Austin was rated at -9.1 percent, well within the fair market range while Dallas was at -28.1 percent is overvalued.
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