Although we might sound like a broken record at this point, the DFW real estate market continues its upward trend of seeing some of the hottest home price gains in the country. In the latest Standard & Poor's/Case-Shiller index, Dallas home prices are reported to have over an 8% increase year-over-year, trailing only Portland, Seattle, and Denver in that category.
Nationwide, the country’s largest 20 metropolitan cities all have an average home price gain of 5.1% combined, however, Dallas is one of 14 cities to see a higher year-over-year gain than the national average.
For a better idea of just how active the market has been overall, national home price gains are only 0.6% off the record high, which was set back in July 2006 right before the recession. Unlike ten years ago, however, economists and industry professionals don’t envision a similar collapse, mainly because the nation’s mortgage debt is nowhere close to its peak over the first three months of 2008. In fact, this year’s mortgage debt is over 12% lower than in early 2008, and in the last 12 months, outstanding debt has only jumped by 2%.