Dallas Real Estate on the Rise

Bloomberg News is reporting a nationwide upswing in housing prices, with Dallas noted as one of the more positive gainers. This is positive news not just for home sellers but the real estate market in general, as these upticks in pricing indicate a positive outlook on the overall economic health of the region and country. With increased pricing brings increased interest in new home construction, which of course brings new jobs and economic renewals in those areas like Dallas hit hardest during the recession.

Prices for single-family homes in Dallas grew over 4% compared to one year earlier according to the S&P/Case-Shiller Home Price Index. Perhaps even more encouraging was the fact that seven of the twelve months in 2012 saw increased in home pricing against previous year averages. The increase has been so promising that it spurred managing director of the Dow Jones indices David Blitzer to positively gush, “The entire nation is on the rebound.”

With regards to Dallas, a number of factors account for the increase in home value, not the least of which are job growth and increases in rental costs. Rents have increased by over 7% in the last five years while nearly 12,000 new jobs were created in the Dallas area in the month of October alone. In short, the region is viewed as vibrant and flourishing for home buyers, families and employers.

So what does all of this mean for you? With more and more buyers entering the market, rising prices and positive economic forecasts, there is no better time to consider a home purchase, before the rising trend becomes a barrier to entry.

Please contact us for more information about Dallas real estate information and loan options currently available.