Real estate has yet again become one of the fastest growing marketplaces in the United States, and with home prices increasing across the board in most major US cities, the new boom shows no sign of slowing down anytime soon. But wait, there is even more cause to celebrate! Dallas area’s home prices are on the rise yet again with above-average year-over-year increases in worth.
This September, average home prices on Standard & Poor’s and Case-Shiller’s 20 city home price index rose 2 percent since the same time last year. Covering around half of US homes, the S&P / Case-Shiller index is an accurate snapshot of the change in home and property prices and has been creating three-month moving average market measurements since January of 2000.
The good news is that Dallas is poised to reclaim its number one spot at the top of the market. Compared to the July-September quarter’s average increase of about 3.6 percent, only 4 percent below Dallas’s previous chart topping values in 2007. Home owners in the greater Dallas area have enjoyed a 7.7 percent increase in home value since January of this year. Experts even speculate that local home values will continue to rise in the coming months due to the shrinking number of homes that are going up for sale.
This consistent climb in home prices in 2012 has helped nurture a humble but burgeoning recovery in the real estate market. Home owners who may have been considering selling are now in a much more favorable climate to do so, and it shows, as many have opted to put their homes on the market and trade up.
Inventory is limited, so give us a call and check out some Erath County homes for sale as soon as possible!