DALLAS – If you followed theDallas Real Estatemarket in 2015 there’s no denying that it was a huge year to buy or sell homes and as we move farther into the New Year it’s easy to say without a doubt that last year was the biggest boom year we’ve seen in decades.
In this post I will breakdown how the 2015 Dallas Real Estate market and give you a few tips on what you can expect for the local Real Estate market this year.
2015 Dallas Texas Housing
Home prices in 2015 rose fast and by the end of the year they had increased by over 10 percent or more than twice our average long term increase.
What makes the growth of theDallas Real Estatemarket different than other states is that home values in Dallas never crashed like so the growth in our Real Estate market is real, based on a sound economy and not property flipping or speculation like you might find in California, Arizona or Nevada.
This year we can expect to see stable growth in the Dallas Real Estate market but many people are hoping that housing costs will not continue rising faster than income growth because this could make homes unaffordable for some buyers in the DFW area.
Dallas Is Gaining Ground in Housing Starts
One exciting thing to keep an eye on this year is housing starts since the Dallas Real Estate market is predicted to pass Houston as the leader in housing starts this year especially since the Houston market has been hit hard recently with a steep decline in oil prices.
Many economists are predicting the DFW area to be a leader in housing starts nationwide this year since the demand for new single family homes has increased 14.5 percent and builders feel confident that the demand for Dallas Real Estate won’t see any decline in 2016-2017.
Author:Amy Hunniford Phone: 214-701-0777 Dated: February 18th 2016 Views: 611 About Amy: Amy Hunniford is here to earn your business! My passion for real estate, my vast market knowledge an...
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