The Dallas region’s home price gains continue to rank among the hottest in the country, posting an 8.3 percent increase year-over-year in the new Standard & Poor’s/Case-Shiller 20-market comparison. Dallas trailed only Portland, Seattle and Denver in the latest index of rising home values.
Nationally, the 20 largest metropolitan cities saw home prices rise 5.1 percent from last year. Dallas was one of 14 cities to post year-over-year gains higher than the national average. Portland and Seattle recorded double-digit increases in July from a year earlier — 12.4 percent and 11.2 percent, respectively.
Dallas home prices have been rising between 8 percent and 10 percent annually for more than a year in the Case-Shiller survey. Local prices are at record levels in the widely watched index and are up more than 25 percent from 2007.
To determine the value of your North Texas home in today’s competitive market, connect with an Ebby Halliday Realtor. It’s easy. Get started at the award-winning ebby.com.
Nationwide, existing-home sales rose 2.4 percent in July over June, according to the National Association of Realtors. Sales are at the highest pace of 2014 and have risen four consecutive months.
Lawrence Yun, NAR chief economist, says sales momentum is building behind stronger job growth and improving inventory conditions. “The number of houses for sale is higher than a year ago and tamer price increases are giving prospective buyers less hesitation about entering the market,” he said. “More people are buying homes compared to earlier in the year and this trend should continue with interest rates remaining low and apartment rents on the rise.”
Nationally, the median existing-home price for all housing types in July was $222,900, which is 4.9 percent above July 2013. This marks the 29th consecutive month of year-over-year price gains.
In North Texas, the median existing-home price for all housing types in July was $194,000, which is 6.2% percent above July 2013.
To see all of the homes listed for sale in North Texas, not just those listed with Ebby Halliday, visit the award-winning ebby.com.
Dallas-area home prices rose at the slowest rate in 10 months, according to the just-released Standard & Poor’s/Case-Shiller Home Price Index.
Dallas prices were up 8.6 percent in May from a year ago. Nationwide, prices rose 9.4 percent in the same period.
The lower home price gains had been predicted by analysts who see some moderation after many months of double-digit price increases. Eighteen of the 20 cities Case-Shiller surveys had lower gains in May than in April.
Dallas’ increase was the smallest since July of last year. Earlier this year local home prices were growing at more than 10 percent from a year ago.
The largest annual gains in May were in Las Vegas, 16.9 percent, and San Francisco, 15.4 percent. The smallest increase was in Cleveland, 2.4 percent.
Dallas-area home prices are now at a record level – up more than 9 percent from where they were before the recession. And prices here are almost 25 percent ahead of where they were at the worst of the economic downturn in 2009. Dallas-area prices have been rising in the Case-Shiller study for more than 24 months.
Dallas-area home prices rose 8.7 percent in May from a year ago, according to a new report by CoreLogic Inc.
Nationwide, home prices rose 8.8 percent. The largest home-price gains were in California, with Riverside at 18.2 percent, and Los Angeles at 13.4 percent.
“As we move ahead, a moderation in home price increases over the next 12 months should help cool things down a bit and keep the housing recovery going,” said CoreLogic CEO Anand.
If you’re curious about the value of your North Texas home — or you’d just like to learn more about the fast-paced Dallas-Fort Worth-area housing market — contact an Ebby Associate today. To get started, visit the award-winning ebby.com.
While it’s already quite warm in North Texas, summer doesn’t officially start until this Saturday, June 21. With sales prices on the rise, fewer homes for sale and low interest rates, this summer offers potential home sellers ideal conditions to sell a home in Dallas-Fort Worth. Competition among buyers is heated and multiple offers are common in many neighborhoods.
Just how hot is the North Texas housing market? Consider that in the past 12 months:
* The median sales price is up 8.6%.
* The average time a home is on the market is just 55 days. That’s down 21% from this time last year.
* The number of homes for sale is down 14.6%, meaning sellers have significantly less competition.
* And, finally, the number of homes sold in the past year is up 7.2%.
If you’re considering listing your home, the summer of 2014 offers an extraordinary opportunity. Contact an Ebby Associate to learn more about the real estate market in your neighborhood and to determine what your home is worth in today’s fast-paced market. To find the ideal agent for your residential real estate needs, visit the award-winning ebby.com.
Dallas-area home prices hit a record high in the latest Standard & Poor’s/Case-Shiller Home Price Index.
According to the report released today, local home prices were up 10 percent in March from a year earlier. March marks the fourth-consecutive month that Dallas-area home prices increased at a double-digit rate from the previous year. Prices were up 1.2 percent over February.
Nationwide, prices were up 10.3 percent from 2013.
“All cities were higher than a year ago and all but New York were higher in March than in February,” said S&P’s David Blitzer. “However, only Denver and Dallas have set new post-crisis highs and they experienced relatively lower peak levels than other cities.”
Dallas-area home prices are now 6 percent higher than they were at the previous peak of the market back in 2007. Nationwide, prices are still almost 20 percent below where they were before the recession.
To find out what your home is worth in today’s fast-moving market, contact an Ebby Associate today. To get started, visit the award-winning ebby.com.
Dallas-area home prices rose by 11.8% in February, according to a just-released report from CoreLogic Inc.
Texas has now made up all the home price declines the state suffered in the recession, according to the research firm. Nationwide, prices were up 12.2 percent from the same time a year ago.
“As the spring home-buying season kicks off, house price appreciation continues to be strong,” said Dr. Mark Fleming, chief economist for CoreLogic. “Although prices should remain strong in the near term due to a short supply of homes on the market, price increases should moderate over the next year as home equity releases pent-up supply.”
According to the report, the states still experiencing the largest home price decreases since the economic downturn are Nevada (-39.9 percent), Florida (-36.4 percent), Rhode Island (-30.9 percent), Arizona (-30.5 percent) and West Virginia (-26.6 percent).
To learn more about the housing market in your specific area of interest, contact an Ebby Associate today. To get started, visit the award-winning ebby.com.