According to the latest Standard & Poor’s/Case-Schiller Home Price Index, DFW home prices saw some of the largest increases in the entire country last month, which to some degree, is hardly a surprise to those of us already familiar with how red hot the local housing market has been throughout 2016.
As noted in the report, seven of the 20 major markets the Case Schiller-Index tracks are seeing record highs for home prices, which no doubt includes the DFW area. The exact price increase from September 2015 to September of this year was recorded at 8%, while home prices nationwide are only seeing a 5.5% from this time last year.
Believe it or not, the most recent pricing numbers now have Dallas-area home prices up by over 30% from the pre-recession high in the middle of 2007, which is a true indicator of just how far we’ve come since during the height of the housing crisis.
It’s worth noting, however, that the Case-Schiller Index only tracks pricing for single-family homes, and the recorded gains do not include townhouses and condominiums. Additionally, new construction is also not part of the data either.
Even despite some of the largest increases in the U.S., buyer demand is still high in and around the Dallas area, which isn't likely to cool down anytime soon due to the region’s supreme job growth and limited inventory.