Last Friday Steve Brown wrote an interesting article in the Dallas Morning news about how  home values compare across the country.  The study was recently done by IHS Global Insight a Massachusetts basedresearch firm.  Dallas-Ft. Worth has some of the most undervalued homes in the country.

According to Jeannine Cataldi, Global Insight’s senior economist “undervalued means prices could go up in DFW by 32% without any long-lasting damage to the market.”  But don’t expect a jump in prices.  She points out that Texas has always been in the ujndervalued category.  The overall U.S. home market is more than 10% overvalued.  These numbers compare to an over valuation of 24% during the peak markets of 2005.

Two Florida markets are even more undervalued along with Las Vegas and Houma, La.  Markets that are the most overvalued markets are two cities in New Jersey and two cities in Washington state as well as Honolulu.

In the Dallas area, the falloff fromthe end of 2008 was about 2 %.  Texas markets have long been considered some of the cheapest places in the country to  purchase a home.  BUT as we all know we pay some of the highest property taxes and insurance rates in the country.

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