In case you haven’t noticed lately, buzzwords like “crash” and “bubble” have been used more often than not when discussing the real estate market in general, and especially here in DFW, where the market continues to be red hot.
And while buzzwords like these always tend to make everybody nervous, Dallas-Fort Worth is actually one of three major metro areas across the U.S. that currently has sustainable home prices, at least according to the latest Wall Street Journal Fitch Ratings.
Sure, home prices throughout North Texas have jumped significantly over the past few years. And even just last year, these same ratings labeled home prices in DFW overvalued by a whopping 24 percent.
But in its latest report, however, growth in the area’s rental market, as well as rising incomes and declining unemployment rates in North Texas, have completely flipped the market and it’s now one of the healthier markets nationwide, along with Detroit and Las Vegas.
According to the latest figures from the Metrotex Association of Realtors, median priced homes sold for a record $335,000 in March, an increase of 19% from one year earlier.