The North Texas housing market continues its upward climb, and a recent report from CoreLogic takes a closer look, finding a significant boost in home prices for the month of August.
Citing data from CoreLogic, The Dallas Morning News reported that area home prices were up 10 percent on a year-over-year basis. This number was slightly below the national figure of 12.4 percent, but is still concrete news that the North Texas housing market is still in a good place.
“We anticipate moderate gains in home prices over the balance of this year, supported by the recent downward trend in rates and continued tight supplies of homes in many markets,” said Anand Nallathambi, president and CEO of CoreLogic.
In fact, the Dallas – Plano – Irving housing market in Texas was singled out with 10.2 percent growth among single-family homes including distressed properties, and 10.6 percent growth for single-family homes excluding distressed properties.
Taking a closer look at the data we see that home price growth in the Dallas area slowed some between July and August this year. What can we make of all this?
Well the summer buying season is typically a busy time for home buyers and sellers in North Texas, and that activity does tend to taper off some as summer leads into fall. Also, it’s important to note that the area experienced what could be considered extreme growth during the first half of 2013, and it was never expected to continue on that pace through the remainder of the year.
It’s also important to keep in mind that when it comes to the housing market, balance is key as you never want to be too extreme or one-sided toward buyers or sellers. What was once an overly seller’s market is now settling down a bit.
Still, there are plenty of attractive homes for sale in the Dallas suburbs, including in Stephenville. if you’d like to learn more about Stephenville homes for sale, contact us today.