This past August, DFW homebuyers saw some of the biggest price increases in the country. According to the Standard & Poor’s/Case-Shiller Home Price Index, Dallas-area prices were 8% higher than in August 2015, whereas the national increase for the same period was 5.5%. In the first 10 months of 2016, median prices of homes sold by real estate agents had risen by 10%.
The Case-Shiller survey tracks pre-owned typical single-family homes, but not condos, townhouses, or new construction. A more inclusive comparison by Zillow.com shows even larger price gains in the area, reporting a 12.3% increase from October 2015 to October 2016. In the price report, Zillow analysts point out that “Portland, Dallas, and Seattle reported the highest year-over-year home value appreciation among the 35 largest metros across the country for the third month in a row.”
What does this mean for buyers? The time to buy is NOW! Maybe you’re waiting to make a move until you get that promotion, your child leaves for college, or you save up a little more cash for a down payment. However, home prices are expected to continue climbing in the coming months, with no signs of slowing down. A home that's within your budget now may not be affordable this time next year.
Thinking about making a move? For all of your #DFWRealEstate needs, contact me at Rogers@RogersHealy.com.
To read the Dallas Morning News article by Steve Brown, click here.
Author:Rogers Healy Phone: 214-676-4270 Dated: November 29th 2016 Views: 213 About Rogers: Rogers Healy, a native Texan, has lived in Dallas for the majority of his life. Before moving to Dal...
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Rogers Healy and Associates Real Estate is a DFW based residential and commercial real estate company that was founded in 2007 by Rogers Healy. RHAdfw is passionate about developing long lasting relationships with clients while representing them to buy, sell or lease any home in DFW.