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The residential real estate market may be returning to a more 'normal' balance in the DFW area, according to data recently published in Standard & Poor's Case-Shiller Home Price Index.
Even though home prices are at a record level in the Dallas/Ft. Worth are the recent local "home price surge" appears to be slowing down. Analysts expect a cooling off in the market because while home prices were up 8.6% in May over the same period last year, it has been the slowest rate of increase in over a year. "The higher year-over-year home price gains are behind us." said David Brown of Metrostudy, Inc. Brown also predicts that the overall increase in home prices will be under 10% for the year. Jed Kolko, chief economist with Trulia, Inc. has been quoted as saying, "Now that prices have risen significantly, there's less room for appreciation before homes start looking overvalued. Expanding inventory and less investor buying both will move the market closer to normal." A more balanced market, with moderately increasing values and steady sales will benefit both buyers and sellers who opt to enter the market during the remainder of 2014 and in 2015.
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AuthorPamela Edwards is an award winning, passionate Realtor and a native Dallasite. Her innovative marketing strategies lead to homes being sold 58% faster than the market average. Pamela goes above and beyond always focusing on having her clients best interest at hand. Archives
January 2015
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