If you need more evidence that the DFW real estate market is scorching hot right now, have a look at the latest S&P/Case-Shiller Home Price Index for 2014. According to its year-end report, Dallas-area home prices saw a 7.5 percent increase from 2013 to 2014, or nearly 3 percent higher than home prices nationwide.
With Denver, Miami and San Francisco all seeing between 8 and 10 percent bumps in home prices, Dallas saw the fourth-highest jump in the country among the major 20 markets that Case-Shiller surveys, edging out cities like Las Vegas, Seattle, and Los Angeles.
To date, home prices in the DFW region are now 13 percent higher than what was seen before the recession, and an astounding 30 percent higher since the beginning of 2012.
It’s important to note that the Case-Shiller survey only tracks prices for single-family homes, which of course doesn’t include prices on condominiums and townhomes—property types that no doubt relate to housing affordability in the area, which is starting to concern some DFW home buyers—particularly the younger, first-time buyers. Â
But even despite those concerns, the it’s hard to argue that Dallas’ recent surge in home prices is a good sign overall for the health of the local real estate market, especially for those who plan on selling sometime in 2015.
Looking to buy or sell a home, condo, or townhome in DFW this year? Contact local Dallas real estate pro Kenneth Cox for market updates, or to schedule a free, no-obligation consultation to discuss your buying or selling goals!
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