A new study from IHS Global Insight said most DFW area homes are 31 percent "undervalued."
"What it means when it is undervalued is the market could handle price increases. It just means prices could go up in that market without any long lasting damage to the market," said Jeannine Cataldi, Global Insight's senior economist, to the Dallas Morning News,
IHS estimates 10 percent of U.S. housing is undervalued now, compared to a 24 percent overvalue in 2005. Overvalued markets like Atlantic City, N.J. (which is 44 percent overvalued) may continue to suffer price drops on those homes, even as the market stabilizes.
Texans looking for a higher price might not be so lucky, though -- a big factor in DFW's undervalued stats relates to the fact we still have open land to build on.