Home prices in Dallas-Fort Worth are overheated and are 10 percent to 14 percent overpriced, according to the latest report by Wall Street analyst Fitch Ratings.

Fitch has been warning about runaway home price gains in Texas for almost two years.

Home sales prices in North Texas are at record highs and have jumped more than 40 percent in the last four years.

"Rapid home price growth in parts of the western U.S., Texas and Florida appears to exceed supporting economic fundamentals," the analysts warn in a new study. "Home prices in major metropolitan areas in those regions such as Dallas, Las Vegas, Phoenix, and Portland are overpriced according to estimates by Fitch."

The ratings agency also said housing prices are out of whack to a lesser degree in markets including San Francisco, Miami, Los Angeles, Atlanta and Tampa, Fla.

"Home prices in most regions are sustainable and supported by improving unemployment and inflation-adjusted income growth rates," Fitch analysts said.

Some major markets are still considered undervalued for housing, including Chicago, New York and Cleveland.

Home prices in North Texas have been sharply increasing because of strong economic growth in the area and a lack of inventory of homes for sale.

Median home sales prices in the area were about 10 percent higher in 2016.