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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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DFW Asking Prices Continue to Rise, With No Signs of Cooling

July 12th, 2013 | by The Update
DFW Asking Prices Continue to Rise, With No Signs of Cooling-Dallas

The Dallas-Fort Worth home market enjoys another month of appreciation, according to national statistics. This home at 6312 Carrington Drive in Far North Dallas is newly listed by Susan Baldwin and Ginger Nobles.

Asking prices in the Dallas-Fort Worth home market are up 12.6 percent year over year, according to new data released by Trulia.

That’s higher than the national average year-over-year home price increase of 10.7 percent. Month over month, asking prices in the U.S. generally have been increasing since about May 2011.

Expert agents with Briggs Freeman Sotheby’s International Realty have reported that homes in some neighborhoods are receiving offers at or above asking price, and that many prices have returned to pre-bubble status. Homes that are priced well and in good condition are selling quickly, agents say.

Trulia monitors the 100 largest metropolitan areas in the U.S. for home asking prices and rental rates. Rents in Dallas-Fort Worth were up 2.4 percent year over year.

Here’s an excerpt from the Trulia report:

Despite rising mortgage rates – which make housing less affordable and should help slow down price gains eventually – prices show no sign of cooling off. In June, asking home prices rose 1.5 percent month-over-month, seasonally adjusted. Prices have risen between 1.2 percent and 1.5 percent per month for the past five months, and nationally, prices rose 10.7% year-over-year. Even excluding foreclosures, prices are up 11.4 percent year-over-year, which means the national price increases aren’t primarily driven by the shift away from foreclosure to non-distressed homes for sale. Prices won’t keep rising this fast: rising mortgage rates, more inventory, and declining investor demand should all tap the brakes on price gains – though just not yet.

Click here to read the full report from Trulia.

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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