More than half of Texas homes selling below market value, study finds

Despite the economy's quick post-pandemic growth, Texas isn't immune to the pressure that higher interest rates have put on the housing market, according to a new study from real estate data company Agent Advice. Using figures from online marketplace Zillow, the new report found that 61.3% of homes sold in Texas during recent months moved for less than their market value. Researchers looked at the 950 most recent properties to sell in housing markets nationwide to determine which had the highest percentage of homes sold below the listed price. Texas ranked as the state with the seventh-highest number of home sales below market value.