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Dallas-area home prices inch higher in latest comparison

Posted by Dallas Native Team | Dave Perry-Miller Real Estate on

Mary Beth Harrison commented on Dallas News article…

“The Dallas home market is alive and well and flourishing. Thankfully we have never seen meteoric rise in house prices here. It had always been strong and steady which is what any economist will tell you is the perfect way to go. When you have big spikes in pricing, like both coasts experienced, then any decline in pricing hurts and it takes awhile to recover.

Don’t misinterpret slow and steady growth for low house prices. That is not the case in the Dallas area and in fact many out of town buyers come here expecting really low prices only to realize our prices are in a line with many other cities.

So slow and steady wins the race every time and you will find that in our great city.”

Local prices rose 2.6% from a year ago.

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Nationwide home prices were 3.8% higher at the end of December.(Steve Brown)

Dallas-area home prices continued to show modest gains in the latest nationwide comparison.

Dallas prices were up 2.6% from a year ago in the just released S&P CoreLogic Case-Shiller Home Price Index. That was less than the nationwide annual price rise of 3.8% from December 2018.

Home prices grew in all of the 20 major U.S. home markets tracked each month in the Case-Shiller survey.

“The U.S. housing market continued its trend of stable growth in December,” S&P’s Craig J. Lazzara said in the report. “At the national level, home prices are 59% above the trough reached in February 2012, and 15% above their pre-financial crisis peak.”

None of the home markets had double-digit percentage home price increases.

The largest year-over-year price gains were in Phoenix (6.5%), Charlotte (5.3%) and Tampa (5.2%).

The Dallas-area price increase was in line with appreciation reported by Case-Shiller in recent months. Dallas-area home prices are more than 70% higher than they were at the worst of the recession in 2009, according to Case-Shiller.

The median home sales prices of single-family homes sold by real estate agents in North Texas were 3% higher in 2019 than in 2018.

Nationwide, home price growth has increased in recent months as lower mortgage rates have sent more people into the market to buy homes.

See the full Dallas News article

One Comment Add yours

  1. Henry Dallas says:
    February 26, 2020 at 12:45 am

    The house is gorgeous!

    Reply

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