D-FW growth among best in U.S.
Up 68.5 percent from bottom of market, areas comeback ranks 4th
GREAT RECESSION RECOVERY
It will come as no surprise to potential North Texas home buyers that a new report ranks Dallas-Fort Worth as one of the LIS. markets that have seen the most home price growth since the Great Recession.
The Dallas area ranked fourth behind Denver, Austin and San Francisco among cities experiencing the greatest home price appreciation in that period. Dallas prices are up 68.5 percent from the bottom of the market, according to the survey by HSH Associates. So far, 73 LIS. home markets have seen their home values recover 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 D-FW, Fort Worth, Houston and San Antonio are also on the list of cities that IISII says have seen the most home price growth in the past decade.
D-FW home prices are at record highs. But price increases have moderated in the past year as mortgage rates have risen and more houses came on the market.
So far in 2018, median home sales prices are up about 5 percent in North Texas from a year ago. The latest forecast calls for a 4.3 percent rise in home prices next year. Not all US. markets have seen a rebound in their housing.
Home values in Bakersfield, Calif., are still more than 27 percent below their levels before the recession. Prices in New Haven, Conn., and Cape Coral, Fla., also lag their prerecession highs by almost 20 percent.