For those with Plano and Dallas homes, things may have just went from good to better in terms of the value those homes have netted during the 2012-2013 real estate boom. A recent report in the Dallas Morning News saw Plano home values rising tremendously, and pretty much the rest of the Dallas area also performing quite well in the single-family home sector.
Findings in the article included the fact that most Dallas neighborhoods have seen home prices go up by 10 percent or more in 2013 alone—not even taking into account how much those values rose when the market began to heat up in mid-2012. Also, pre-owned Dallas home sales are 20 percent higher year-over-year, marking a record for North Texas gains over a six month period.
Beyond this, a piece of extremely reassuring news is that analysts cited in the article predicted that Dallas home values should continue to increase through the end of 2013, regardless of what is happening with Dallas mortgage rates. These same analysts also said they did not think worry about a housing bubble bursting was a legitimate concern at the moment.
As for the aforementioned growth in the Plano home values, the Texas A&M Real Estate Center and North Texas Real Estate Information Systems reported that 1,886 Plano homes sold in the first six months of 2013. Pitting that number against last year’s postings for the first half of the year, the Plano home market saw a whopping 24 percent increase.
The Plano home market also saw a $249,850 median list price, which was up 9 percent from last year, and is way above the market average in the Dallas area, according to the Dallas Morning News. On top of this, the 1.7 months of inventory reported in Plano could suggest a buyers’ market, the paper reports. Overall, the ability to find a great Plano home or net huge profits on your Plano home both seem like available options at the moment.
Interested in hearing more about Dallas mortgage loans or mortgage plans in the Dallas area? Please contact our team of expert Dallas mortgage professionals. It would be our pleasure to assist you in finding the best available mortgage plan for your unique needs.
+Patrick Glaros empowers people to find their best home loan option. Through planning and education, and a goal-oriented approach, Patrick and the team at Dallas Mortgage Planners have one common goal: Help clients make an informed decision to choose the best home loan for their unique situation. Find other articles written by Patrick.
