A new study shows that Austin home prices are rising and selling for much more than estimated.

The results of the study conducted in tandem by Florida Atlantic University and Florida International University concluded that Austin home prices are the second most overpriced in the country, according to an article by KVUE News. 

Homes in Austin are selling for about 50% more than they should be, according to researchers as noted in the KVUE article. 

Austin was the only city in Texas to make this study’s Top 10 list of overvalued homes, CultureMap Austin said in an article. This does not mean, however, that homes in other cities are not overpriced as Dallas-Fort Worth came in at No. 19 with a real estate market that is almost 32% overvalued and Houston was 57th with homes selling almost 18% over what they should, according to CultureMap Austin. 

The only city in the country to outrank Austin was Boise, Idaho, KVUE News reported. 

In response to Austin homes being overpriced, the study recommended renting or investing for the time being instead of purchasing a home, KVUE said. 

The Associate Dean of FAU Business Ken H. Johnson said in a Twitter post, "I'm not forecasting anything close to a housing crash like we saw more than a decade ago, but consumers still shouldn't be buying near the peak of a housing market."