It’s a new year, but that may not mean much change in terms of rising home prices in the Dallas-Fort Worth area. While the price gains in 2022 may not be as bad as they’ve been in recent time, price increases could likely continue in the foreseeable future.
Some experts say home prices have gone so high, they may start seeing decreased demand. Still, the housing market remains tight and it should still be a strong year for home sales.
Homebuilders in the region have already increased construction to help meet the demand, but they’re selling homes at a fast rate. The median sales price for single-family homes in North Texas is already up considerably over what it was a few years ago.
Apartment rents are also up, but renters could likely see some smaller increases over 2022. In North Texas alone, there are more than 38,000 apartments currently under construction. Builders could start even more in the near future.
As for single-family homes, some forecasts suggest well more than 50,000 starts in Dallas-Fort Worth over the course of 2022.