We did it again: Dallas, well, North Texas, made it as one of the highest appreciating real estate markets in the country, according to the folks at the Real Estate oracle of nationwide comparison, Standard & Poor’s/Case-Shiller Home Price Index.
Dallas area home prices were 9 percent higher this May (2016) than they were a year ago May (2015). And it was the biggest chunk of price gain since February.
“Home prices continue to appreciate across the country,” S&P’s David M. Blitzer said in the report. “Overall, housing is doing quite well.”
Quite. The nation’s home prices across the board were up 5 percent from May 2015. So yes, Blitzer is correct: the nation’s housing market is healthy. It’s just that, with prices rising so much, it makes it more difficult for people on limited incomes or first time buyers or buyers saddled with college debt to get in.
Dallas area real estate prices have been rising 8 to 10 percent now annually for more than a year, due mostly to a dearth of inventory. Well-priced homes in certain price segment sell within days of being listed or sometimes, even before. (more…)