Dallas Home Prices Now 4% Over the 2006 Boom

Just the Facts

Top Schools Equal Higher Home Prices

An analysis by Redfin illustrates the steep price premiums that homeowners are willing to pay for homes served by top-ranked schools, offering the latest concrete evidence that buyers place remarkable importance on the quality of schools.  Redfin’s study found that buyers pay an average of $50 more per square foot for homes served by top-ranked schools than for those served by average-ranked schools. It also found that, even within the same neighborhoods, buyers will pay substantially more for homes served by top-ranked schools than they do for comparable homes served by average-ranked schools.  The online survey, conducted this summer, found that of those who said school attendance boundaries were important:

* 23.6 percent would pay 1 to 5 percent above budget.

* 20.7 percent would pay 6 to 10 percent above budget.

* 9 percent would pay 11 to 20 percent above budget.

* 40.3 percent would not go above budget.

        -      Inman News, September 25, 2013

Dallas Home Prices Now 4% Over the 2006 Boom

Dallas and Denver are now the two American cities where home prices has reached and surpassed the levels in the 2006-2007 boom.   And price increases are expected to continue into 2014.  Most Americans (55%) think home prices will go up over the next 12 months, according to a new Bankrate.com report.  "It seems like Americans' love affair with real estate has returned," said Greg McBride, CFA, Bankrate.com's senior financial analyst.   There is concern on the part of some prospective home buyers that prices may be running away from them, said McBride.   "The housing market is aiding the economic recovery," he said.   

-          Dallas Morning News, September 25, 2013 (excerpts)

All Top 100 Markets Gained in July

The July report for Homes.com showed gains for single-family properties in all 100 markets, up from 87 in the previous reporting period.  The Homes.com Local Market Index has been expanded to include midsized markets ranked from 101-300. It provides a closer look at smaller markets nationwide, showing increases in 293 of the top 300 markets, up from 250 the previous month. Year-over-year, all midsized markets increased.  Rebound data for July 2013 in the top 100 markets revealed that 22 markets across the U.S. are fully recovered – up from the previous month’s 19 markets. Additionally, 44 U.S. markets now show a rebound of 50 percent or more, up from 41 in last month’s report.

-          RISMedia September 25, 2013