Dallas-area Home Prices See Biggest Gain Since 2007

Courtesy of Ebby Halliday’s Blog:

Sheryl Jean and Steve Brown of The Dallas Morning News report that Dallas-area home prices logged their biggest gain in more than five years in September. In addition to this positive local news, Jean and Brown report that most major U.S. cities saw home-price increases, signaling that a nationwide housing rebound is well on its way.

Prices of pre-owned single-family homes in the Dallas area rose 4.4 percent from a year earlier, ranking ninth among 20 cities included in the just-released Standard & Poor’s/Case-Shiller Home Price Index. September marked the seventh month in which Dallas-area home prices have increased from a year earlier.

Nationally, the closely watched index rose 3 percent in September from the same month last year.

“The entire nation is on the rebound,” said David Blitzer, managing director of S&P Dow Jones Indices. “We have six months of good numbers, which we haven’t had for some time,” Blitzer said. “Housing overall — not just home prices and construction — is improving. This recovery is for real and will be maintained going forward.”

Phoenix saw the largest percentage increase in September, up 20.4 percent from a year earlier. Only two of the 20 cities — New York and Chicago — saw declines.

Locally and nationwide, many housing indicators have improved significantly in the past few months and point to a strengthening housing market in Dallas and across the country.

This latest welcome news mirrors what we have been hearing from Ebby Associates for some time now. Back in May, Kathy Lakatta, a longtime companywide top-producing agent who is based in the Mansfield Office of Ebby Halliday, REALTORS®, told The Dallas Morning News,“Buyers are feeling much more comfortable. I am seeing a lot more people out and about who are ready to buy. I’ve had multiple offers on three newly listed properties in the past two weeks alone. It’s going to be an amazing year.”

Turns out Kathy’s prediction was right on target. It has been an absolutely amazing year for North Texas real estate and The Ebby Halliday Companies, which includes Ebby Halliday, REALTORS® and Dave Perry-Miller & Associates. Sales volume at The Ebby Halliday Companies in October was up an astounding 36 percent over the same period in 2011, setting an all-time record for the month and marking 10 consecutive months of sales increases when compared to the previous year.
Says Mary Frances Burleson, president and CEO of Ebby Halliday Real Estate Inc., “That’s real growth, and a strong indication of increasing stability and improvement in the local real estate market for 2013 and beyond.”

Clearly, now truly is an ideal time to buy or sell a home in North Texas. To get started today, visit daveperrymiller.com.

DallasNews.com subscribers may click here to see the full article from Sheryl Jean and Steve Brown.

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