AgentIndustry News

CoreLogic: Everything’s bigger in Texas, including home prices

Longhorn State tops researcher's list of markets with unsustainable home prices

Takeaways: With home prices rising steadily since 2013, homes have become less affordable for some buyers -- and therefore, less sustainable, says CoreLogic in its Market Condition Indicators report for the second quarter. As home prices have continued to rise, the gap between home prices and sustainable values has narrowed to 3.6 percent below the long-run sustainable level -- and could shrink even further to 1.5 percent by 2017, according to CoreLogic's forecast. The trend is especially prevalent in Texas, where home prices in five local markets are well above their historical peak levels. With home prices rising steadily since 2013, homes have become less affordable for some buyers -- and, therefore, less sustainable, says CoreLogic in its Market Condition Indicators report for the second quarter. It’s been a wild few years in terms of housing price sustainability, noted CoreLogic, which has historical indicators for many markets dating back to 1976. During...