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Update Dallas | A central hub for market and real estate news affecting the Dallas region.

A central hub for market and real estate news affecting the Dallas region.



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Dallas Home Prices Bounce Back, Market Said to “Flourish”

June 25th, 2013 | by The Update
Dallas-Homes-Prices-Bounce-Back-Market-Said-to-Flourish.jpg

Bloomberg takes a look at the Dallas real estate market and dubs it an example of “riskless return” from the national housing bubble.

Read more:

Dallas has been the best-performing of 20 major housing markets in the U.S. since the real estate bubble burst in 2006, as job and population growth pushes up demand.

The north Texas metropolitan area is the only one among the cities in the S&P/Case-Shiller index with a gain, on an absolute basis as well as adjusted for price swings, in the seven years through March, according to the BLOOMBERG RISKLESS RETURN RANKING based on the most recent data available.

“We didn’t have a bubble in the first place, so there was no real collapse in prices,” said Mark Dotzour, chief economist at the real estate center at Texas A&M University in College Station, Texas. “I expect we’ll be in this seller’s market that’ll lead to higher appreciation than normal this year and next.”

Dallas is the Case-Shiller index’s only city in Texas, a state where the housing industry has flourished amid economic growth, few environmental constraints and abundant land. The Dallas-Fort Worth area added 104,900 non-farm jobs in April from a year earlier, the most after the New York City area’s 160,000 jobs and Houston’s 111,200, according to the Bureau of Labor Statistics.

“Underpinning the housing sector’s gains is a broad-based expansion of the overall Texas economy,” according to a June 13 paper by D’Ann Petersen, a Federal Reserve Bank of Dallas economist, and Christina Daly, a research analyst. “Stronger-than-average employment growth and consistent in-migration should continue boosting demand for homes and apartments.”

Click here to read the full article from Bloomberg.

Click here to read more news about real estate and the economy in Dallas-Fort Worth.

Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout the Metroplex and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. For more information on escapes and second homesranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.

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