Buyers in North Texas could be looking at another boost in home prices next year. Already, early estimates suggest prices could again be going up.
According to Porch.com, a moving and renovation website, the Dallas-Fort Worth area could see a 21-percent boost. It bases its estimates on real estate projections from Redfin, Zillow, and from information obtained by the US Census Bureau.
That puts Dallas-Fort Worth in ninth place among large US housing markets Previously, the one-year change in home price for the area, according to Porch.com, was about 14-percent.
Just a couple of months ago, the median home price in Dallas-Fort Worth was around $297,000. Some real estate professionals, however, say buyers are already starting to feel the pinch.
Some buyers are putting in offers well above asking price but losing out. In some cases, homes are getting dozens of offers.
This makes it especially difficult for first-time buyers. Some of the entry-level homes in the region are being snapped up by investors from out of state. Those investors are then renting the homes to buyers unable to afford buying a home of their own.
Posted by Kenneth G. Cox on
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