North Texas Market Among Nation’s Hottest


North Texas Housing Market Among Nation’s Hottest

 

The Dallas-area’s home price gains have earned it a place among the fastest-appreciating housing markets in the U.S. at midyear, according to the latest Standard & Poor’s/Case-Shiller Home Price Index of rising values. Dallas ranked behind only Portland, Seattle and Denver in the just-released report.

 

Dallas home prices were 8.9 percent higher in June from a year earlier in the monthly report. Nationwide, prices rose 5.1 percent in the same period.

 

“Home prices continued to rise across the country led by the West and the South,” S&P’s David M. Blitzer said in the report. “Overall, residential real estate and housing is in good shape.”

 

All 20 of the major U.S. home markets Case-Shiller tracks showed year-over-year gains in June. Portland led the nation with a 12.6 percent gain. Prices were up 11 percent annually in Seattle and 9.2 percent higher in Denver.

 

The Dallas-area is among U.S. home markets that have seen the strongest recoveries since the Great Recession. Dallas housing values are now almost 44 percent higher than where they were before the economic downturn.

 

North Texas Housing Market Among Nation’s Hottest

 

Dallas No. 2 Nationwide in Home Price Gains


Dallas Second Only to Denver in Home Price Gains

 

The Dallas-area had the nation’s second-largest jump in home prices in June, according to a new report by CoreLogic. Dallas home prices rose 9.3 percent compared with June 2015 prices.

 

Only Denver – with a 10.2 percent year-over-year price gain – had a bigger increase among major U.S. cities. Nationwide, prices rose 5.7 percent from a year earlier.

 

“Mortgage rates dipped in June to their lowest level in more than three years, supporting home purchases,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Local markets with strong economic growth have generally had stronger home-price growth.”

 

CoreLogic forecasts that nationwide home prices will grow by 5.3 percent during the next three months.

 

North Texas home prices have risen by more than 40 percent in the last five years, according to Steve Brown, real estate editor at The Dallas Morning News. And home prices in the area are about 50 percent ahead of where they were at the peak of the last housing boom in 2007.

 

In June, the median price of single-family homes sold by North Texas real estate agents hit an all-time high of $237,500.

 

To determine the value of your home in today’s competitive North Texas real estate market, contact an Ebby Halliday Realtors Associate today. To get started, visit the award-winning ebby.com.

 

Dallas Second Only to Denver in Home Price Gains