No surprise for potential North Texas homebuyers, but a new report ranks Dallas-Fort Worth as one of the U.S. markets that’s seen the most home price growth.
The Dallas area ranked fourth behind Denver, Austin and San Francisco among the cities that have seen the most home price appreciation since the Great Recession.
Dallas prices are now up 68.5% from the bottom of the market, according to the survey by HSH Associates.
So far 73 U.S. home markets have seen their home values recovery fully from the huge downturns some areas saw during the recession.
“Home prices continue to rise, trimming the number of metropolitan areas that have yet to see all homes returned to previous peak values,” HSH’s Keith Gumbinger said in the report. “Although the Denver-Aurora-Lakewood, Colo., metro still holds the top slot, Texas markets dominate the most recovered group, holding five of the 10 slots.”
Along with Austin and DFW, Fort Worth, Houston and San Antonio are also on the list of cities that HSH says have seen the most home price growth in the last decade.
DFW home prices are at record highs. But price increases have moderated in the last year as mortgage rates have risen and more houses come on the market.
So far in 2018, median home sales prices are up about 5% in North Texas from a year ago.
The latest forecast calls for a 4.3% rise in home prices next year.
Not all U.S. markets have seen a rebound in their housing.
Home values in Bakersfield, Calif., are still more than 27% below they were before the recession and prices in New Haven, Conn., and Cape Coral, Fla., also lag by almost 20% prerecession highs.
Tribune Content Agency