low home inventory in dallas fort worth area

Dallas, TX: Real Estate Market Review (2015): Single-family housing permits grew 15.4 percent compared to the national average of 11.3 percent, and the current level of construction in Dallas is more than 50 percent above the long-term average. The Dallas-Fort Worth area continues to be a hotbed for new housing construction and 2016 shouldn’t be any different. The mortgage payment-to-income was at 8.6 percent for the first quarter of 2016, which is actually lower than its historic average of 9.9 percent, while the median home price-to-income was 1.6 compared to the national average of 2.6. Home affordability remains the bread and butter for the Dallas real estate market. Bank owned properties have decreased by 28.3 percent over the past year.ĭallas, TX: Real Estate Market (2016) - Q1 Updates:Īlthough home prices are growing relative to last year, the first quarter of 2016 saw the median home price in Dallas increase 9.1 percent compared to the national average of 6.1 percent, while home appreciation increased $20,831 through 2016 Q1.Auction homes have decreased by 30.8 percent over the past year.The number of new foreclosure filings by foreclosure type is as follows: The Dallas market consists of 2,148 resale and new homes, and 1,774 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. In addition, the number of properties in some stage of foreclosure in Dallas, TX were 30 percent lower than the previous year. Price appreciation in the Dallas, TX area continues to rise as gains in the last three years have extended the trend of positive prices growth after the recession.

The national average increased $16,435 over the same period. Homes purchased in the Dallas, TX housing market nine years ago have appreciated, on average, by $83,068.The national average was $59,758 over the same period. Homes purchased in the Dallas, TX housing market seven years ago have appreciated, on average, by $84,424.The national average was $68,727 over the same period. Homes purchased in the Dallas, TX housing market five years ago have appreciated, on average, by $77,957.The national average was $49,356 over the same period. Homes purchased in the Dallas, TX housing market three years ago have appreciated, on average, by $58,382.The national average was $15,781 over the same period. Homes purchased in the Dallas, TX housing market one year ago have appreciated, on average, by $20,831.For a more comprehensive breakdown of equity, refer to the following: Over the last three years (12 quarters), houses have appreciated 31.0 percent. Price appreciation and principal payments in the last three years have boosted total equity growth since the recession. Compared to the same period one year ago, the median home price for the Dallas real estate market has increased 9.1 percent. Conversely, the median home price rests at $210,100. That price represents an increase of 10.5 percent over the same period last year. Dallas Real Estate Market Statistics:Īccording to Trulia, the average Dallas home is worth about $105/sqft. For all intents and purposes, the Dallas-Fort Worth metro is a healthy market. At the moment, conditions are leaning in favor of a sellers’ market as home values have gone up 12.5 percent over the past year and are forecasted to increase by as much as 5.7 percent in the next year. Like Houston, the Dallas real estate market remains fairly stable during both boom and bust years. Having said that, the Dallas-Fort Worth metro is no exception. Housing markets located in the Lone Star state have remained relatively immune to volatile conditions.

Low home inventory in dallas fort worth area