It still seems that with each passing month, the Dallas-area is still hitting all-time highs when it comes to housing figures, and it appears the month of June was no different.
According to a new report from CoreLogic, Dallas has the second biggest increase in home prices last month, jumping by about 9.4% compared to home prices in June of 2015. For comparison-sake, the nationwide rate "only" rose by 5.7% from June of 2015 to June of 2016, which shows just how strong the Dallas real estate market is right now.
Mortgage rates officially reached a three-year low back in June, which no doubt is contributing to the strengthening housing market not just around DFW but in many major markets across the U.S.
Of the largest markets in the country, only Denver saw a higher year-over-year price jump, which according to that same report was 10.2%. And while the 9.4% price gain within the past 12 months is certainly raising some eyebrows, consider that North Texas home prices have risen by more than 40% in the last five years, not to mention 50% ahead of where they were at the peak of the last housing boom all the way back in 2007.
For home sellers in Dallas, it certainly hasn’t been a bad first half of 2016. For buyers, on the other hand, it’s been a challenge to say the least.