If you’re thinking about buying a home in DFW, doing so sooner rather than later might be in your best interest. According to recent numbers from the latest Standard & Poor’s/Case-Shiller Home Price Index, Dallas area home prices were up an incredible 9.6% in December from only a year earlier.
For perspective, the nearly 10 percent jump is almost twice the nationwide gain of 5.4% and is among the five largest increases in the entire country, with only Portland, San Francisco, Denver, and Seattle seeing higher gains.
In most cases, home prices across the U.S. are back to where they were around 2007, prior to the worst housing crash we’ve ever seen. In fact, according to Case-Shiller, DFW area home prices are actually at an all-time high and nearly 24% ahead of 2007 levels.
If you consider all of 2015, home prices are right around 10% higher than compared to 2014 numbers based on median prices of sold homes, and although the pace of home price increases is expected to slow over the course of 2016, buying now as opposed to later in the year will almost certainly save you some money along the way.
Leave A Comment