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DFW Home Prices Rise 101 Percent In First Quarter According To REALTORS®
The D-FW area’s price increase was tied with San Francisco and one of about 50 U.S. markets that saw double-digit home price gains from first quarter 2014, according to the real estate trade group.
D-FW median home prices are now $192,500, compared with $205,200 nationwide, the Realtors’ report said.
The largest price increase in the country was in the Sherman-Denison area just north of Dallas. Median home prices in this Grayson County metro area were up 33.4 percent in the first quarter compared with the same period last year.
Nationwide prices rose 7.4 percent in the first quarter, according to the Realtors.
“Sales activity to start the year was notably higher than a year ago, as steady hiring and low interest rates encouraged more buyers to enter the market,” Realtors economist Lawrence Yun said in a statement. “However, stronger demand without increasing supply led to faster price growth in many markets.”
“Sales could soften slightly in some of these markets seeing sharp price appreciation unless housing supply markedly improves and tempers its unhealthy level of growth.”
Home prices are higher this year in all the major Texas markets. Austin had the biggest increase of 10.2 percent from first quarter 2014.
Prices were up 9.1 percent in San Antonio and 8.5 percent in Houston.
Home prices in North Texas have shot up by almost 60 percent in the last five years.
The rate of price increase is currently more than twice the average, long-term growth rate.
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Chris Boyington, Realtor, ABR
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