National Home Values Continue to Climb
In a trend that should be a pleasant surprise to all those with a Dallas mortgage loan or those looking to make their Dallas homes for sale, a recent study saw national home values increasing through May of 2012. For anyone who took out a mortgage on a Dallas home during the worst of the recession, the real estate boom of the last year could mean extreme net profits in your Dallas home’s value, and with inventory rates low, this also bodes very well for those looking to put their Dallas home on the market.
The S&P/Case-Shiller home price index is one of the most trusted sources around when it comes to real estate trends and values, and its recent report saw national home prices in May at 12.2 percent higher than during the same month a year ago. This is also up from April, when the year-over-year home value gain was up 12.1 percent. But what’s most important about this recent finding is that the 12.2 percent gain in May is higher than at any time since March of 2006 in terms of year-over-year gain on monthly home values.
The S&P/Case-Shiller also reported that as recently as a year ago, the index had shown a 12-month drop in prices, and things were looking beyond grim for the Dallas home market and the national market at large. But shortly after, prices took off thanks in part to low Dallas mortgage rates, and ever since June of 2012 prices have increased each month over the past month. This is a fantastic gain for the Dallas home market, and is indicative of the economic rebound that can be seen not just in the real estate market, but in the job market and across the Dallas metro area.
Are you interested in finding a great Dallas mortgage plan? Our team of Dallas mortgage professionals would be happy to assist you with all your Dallas mortgage needs. Please contact us so that we can go over all the mortgage opportunities available for your unique homeowner situation.