Dallas Housing Prices Continuing Upward Hike

Dallas housing prices held steady in September 2017, increasing by 7.1% year over year. The price increase eclipsed the national figure of 6.2%, according to data from the Standard & Poor’s/Case-Schiller Home Price Index. However, the home price gains are smaller than they were in early 2017, and most of 2016.

Still, North Texas home prices are at record levels; they are more than 40% higher than a decade ago, before the recession. The reason for the consistent increase in price continues to be tight housing supplies.

“Demand is coming first and foremost from buyers in the entry-level and mid-market segments, but available inventory is largely concentrated at the high end, causing the nation’s most affordable homes to grow in value at more than twice the pace of homes at the top of the market,” Zillow chief economist Svenja Gudell told the Dallas Morning News.

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