Recently, a study was released by ATTOM Data Solutions regarding the hottest residential real estate markets in the U.S. According to the findings of the report, Dallas-Fort Worth is still one of the most in-demand markets in the country for those looking to buy a home.
The Q2 2019 home sales report involved major metro areas with at lease one million residents that experienced the biggest percentage changes since the residential market began emerging from the 2008 recession in 2012. While many cities were above pre-recession peaks, some major metros went above 40%, making them the hottest markets in the country. The DFW metro came in third with median home prices for the second quarter 2019 coming in at 72% above pre-recession peaks.
Denver-Aurora-Lakewood, CO took the top spot at about 79% above the pre-recession peak, while Austin, TX came in second at 77% above. The DFW metro edged out Nashville, TN which experienced a 71% change from the pre-recession peak. Other major metros hitting above 40% included San Antonio, Houston, San Jose, Oklahoma City, Raleigh, NC and Grand Rapids, MI. If the data is any indication, it looks like Texas is the place to be!
The study, released on July 16, found that median prices overall were up 6.4% from one year ago with single-family homes in the U.S. selling for a median price of $266,000 in Q2 2019. In June the average price for a single-family home in North Texas was $277,000 according to the June report from North Texas Real Estate Information System, making prices 2% higher than over the same period in 2018.
Of the local markets analyzed by ATTOM, home prices were up in 89% of those markets nationwide when compared to one year ago.
This is great news for sellers, and those in the market for a home in North Texas should take action now! Hot markets mean fewer homes available; it’s a case of supply and demand, so give our Dallas real estate pros a call today.