Is Houston headed for a real estate bubble? (Houston Chronicle)

Photo Courtesy of Houston Chronicle

Photo Courtesy of Houston Chronicle

By Nancy Sarnoff

Houston is one of 19 U.S. metros where home prices are overvalued, according to a new report from real estate website Trulia.com.

At just 2 percent, however, this area is on the low end of the spectrum. By comparison, prices in Orange County, Calif., and Honolulu are overvalued by 16 percent and 13 percent, respectively.

The data show Houston-area home prices rising 11.5 percent over the past year, helping push this market into overvalued territory. Trulia also looks at historical prices, incomes and rents when making its determinations.

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