Showing posts with label Carrolton Real Estate. Show all posts
Showing posts with label Carrolton Real Estate. Show all posts

Monday, January 4, 2016

RE/MAX DFW Associates Sets All-Time Record


RE/MAX DFW Associates set a new record in 2015, closing in excess of $1.67 billion in sales volume, up from $1.5 billion in 2014.  The average home sales price at our firm topped over $306,000 up from $278,000 in 2014.   Thanks to our agents for helping make 2015 a banner year.  Final numbers will be forthcoming.
2015 was the best year ever recorded for real estate in the Dallas-Ft Worth market
Expecting a great 2016!

Tuesday, December 2, 2014

Dallas-Area Home Prices Reach Record

Dallas-Area Home Prices Reach Record
Prices of preowned homes in the Dallas area were up 7.4 percent in the latest Standard & Poor’s/Case-Shiller Home Price Index.  The gain in September from a year ago was the fourth highest in the country – significantly ahead of the 4.9 percent nationwide increase.  Home price increases nationwide have slowed in recent months, but in the Dallas area, the year-over-year price increases have remained steady.  Charlotte, North Carolina and Dallas continue to have price increases considerably above the national average.   Dallas-area home prices are now 12 percent higher than they were before the recession and at record level in the Case-Shiller index.
-          Dallas Morning News, November 26, 2014

Thursday, September 11, 2014

Dallas Skyline Voted Best in the World

http://whateverblog.dallasnews.com/files/2014/09/SKYLINE-500x333.jpg

We’re No. 1
Dallas Skyline Voted Best in the World
Eat that, Bid Apple.  Sorry, Chicago.  Dallas is No. 1.    Our fair city just took first place in USA Today’s Best International Skyline reader’s choice poll, coming out ahead of No. 2 Chicago for ultimate bragging rights.  USA Today cited our skyline’s colorful lighting, and pointed out that people flying in to DFW and Love Field airports get a great view at night.  The top 10 finishers: 1) Dallas, 2) Chicago, 3) Rio de Janeiro, 4) Toronto, 5)New York, 6) Washington, D.C., 7) St. Louis, 8) Hong Kong, 9) San Francisco, and 10) Seattle.
-          Dallas Morning News, September 9, 2014

Friday, September 5, 2014

Dallas Home Prices Growing Faster Than the Nation

Dallas Home Prices Growing Faster Than the Nation
Dallas-area home prices are growing faster than the nationwide rate, according to the latest study by CoreLogic Inc.  Dallas prices rose by 9 percent from a year ago in July, according to CoreLogic’s new report.  That’s ahead of the 7.4 percent nationwide increase.  The largest increases were in Riverside, Calif. (13.8 percent) and Houston (11.8 percent).  CoreLogic forecasts that nationwide home prices will grow by almost 6 percent over the coming year.  “Home prices continued to march higher across much of the U.S. in July.  Most states are reaching price levels not seen since the boom year of 2006,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “Our data indicates that this trend will continue, with more states hitting new all-time peaks this year and into 2015 as the recovery continues.”
-       MetroTex News, September 2, 2014
-        

Tuesday, August 12, 2014

Texas Economy Continues to Boom

Texas Economy Continues to Boom
The Texas economy grew faster in the second quarter, thanks largely to the booming energy industry and strong commercial real estate activity, according to a report by the Federal Reserve Bank of Dallas.  Employment growth is a big part of that picture. Texas’ annualized job growth rose from 2.4 percent in the first quarter to 4.3 percent in the second quarter — the strongest pace in nearly nine years. And that happened even though employment growth slowed in May and June.  The state’s job creation is outpacing the nation’s in all major industries except construction, manufacturing and other services in the first half of 2014. The Dallas Fed forecasts 3.5 percent employment growth this year, or 400,000 new jobs.
-          Dallas Morning News, August 11, 2014


Tuesday, June 3, 2014

AFFORDABILITY OF U.S. CITIES FOR FIRST TIME HOME BUYERS

New Listings Reaching Normalcy
The increasing amount of new listings over the past 60 days in the DFW Metro market is showing signs that we are reaching a normal market for new listings. However, the huge inventory of buyers well exceed the supply of listings and all indications are that our strong seller’s market will continue for the next two to three years, with a continual increase in home prices. Approximately 18,900 homes came on the market in May 2014, compared to 17,468 new listings in May 2012. That is a healthy 9% increase. It was in May 2012 when the DFW Metro market made a significant correction, with May the last month of a buyer’s market to August 2012 when the region had become a seller’s market.

AFFORDABILITY OF U.S. CITIES FOR FIRST TIME HOME BUYERS
A starter home in San Francisco is $679,800, but in Cleveland it is only $102,100. But it takes a hefty income of
$137,129.55 in San Francisco to purchase the starter home. Dallas now ranks 16th in most expensive housing markets,
a huge change over the last many years when Dallas was always one of the most affordable cities.
CITY
Income Needed
Starter Home
Price Change from 2013
1. San Francisco
$137,129.55
$679,800
14.50%
2. San Diego
$98,534.22
$483,000
17.10%
3. New York City
$89,788.69
$388,900
5.60%
4. Los Angeles
$85,964.88
$406,200
17.60%
5. Boston
$79,820.01
$363,200
9.30%
6. Washington, DC
$78,503.56
$358,900
2.90%
7. Seattle
$73,851.06
$339,900
8.70%
8. Portland
$60,307.71
$271,900
10.30%
9. Denver
$59,892.46
$288,400
10.40%
10. Miami
$59,734.23
$259,000
15.10%
11. Sacramento
$58,113.87
$255,800
22.20%
12. Baltimore
$53,078.51
$224,500
-0.90%
13. Chicago
$52,866.88
$176,900
11%
14. Philadelphia
$50,546.25
$201,800
2.10%
15. Houston
$49,036.60
$184,600
12.80%
16. Dallas
$47,708.77
$174,800
9%
17. Minneapolis
$45,732.39
$188,200
10.30%
18. San Antonio
$44,506.00
$169,300
8%
19. Orlando
$43,243.95
$178,000
18.70%
20. Phoenix
$41,308.74
$194,300
15%
21. Tampa
$36,437.56
$145,000
7.40%
22. Atlanta
$34,183.44
$141,900
23.30%
23. Detroit
$32,250.30
$110,750
35.60%
24. Cincinnati
$31,850.18
$121,700
0.06%
25. St. Louis
$31,275.49
$120,500
8.60%
26. Pittsburgh
$30,177.78
$120,000
-1.80%
27. Cleveland
$29,788.67
$102,100
1.10%

Thursday, May 29, 2014

More Home Buyers Are Bringing All-Cash Offers to the Table

More Home Buyers Are Bringing All-Cash Offers to the Table
And more of these buyers are individuals, not the institutional investors who plunged into the housing market in 2012 and 2013.   Wealthy people, foreigners and retirees are transforming markets across the United States with these all-cash deals, helping make up for an alarming shortage of first-time buyers who are struggling to save for a down payment or qualify for a loan, a cause of grave concern about the long-term health of the market and its prospects for a true recovery.  “It’s the investor and the wealthy individual that’s keeping the market alive,” said Mark Zandi, chief economist at Moody’s Analytics.  “The wealthy buyers in particular are fully engaged now. The stock market is up and times are good for them.”    But it is a frustrating time for first-time buyers who cannot compete because their offers included financing contingencies, appraisals and inspections.
-          Washington Post, May 26, 2014

Monday, March 24, 2014

Margaret Hunt Hill Bridge Dallas Texas

“The Bridge to Nowhere”
The naysayers proclaimed at one time that the proposed Margaret Hunt Hill Bridge at a cost of $93 million was simply a bridge to nowhere.  West Dallas was some of the worst slums in the city.   But the city of Dallas had vision, and today the area that once had some of the worst crime is being transformed into the newest hot spot.  Entire city blocks have been purchased for development.  Great restaurants have opened with more on the way.  There will be stunning views of the city from hundreds of new apartments now under construction.  Retail, shops, grocery stores – all now under construction.   A city once again transformed!

Monday, January 27, 2014

Can Shadow Inventory Help Relieve Price Pressure?

Can Shadow Inventory Help Relieve Price Pressure?

By Lawrence Yun, Chief Economist, NATIONAL ASSOCIATION OF REALTORS®
Home prices grew at the fastest pace in seven years in 2013. This is good news for property owners, both homeowners and landlords, as they witnessed, on average, a $32,000 gain in housing equity over the past two years.  The equity increase is an immediate financial gain for many.  For others, it marks only a partial recovery.  That is, at the depth of the downturn there were about 12 - 13 million underwater homeowners.  Now, that figure has been essentially slashed in half. 
There is however some bad news along with the quickly rising home values.  Rising home values make it more difficult for first-time homebuyers to make a purchase.  The conditions will be exacerbated by the near-certain case of a rising interest rate environment in the coming years.  In order to lessen the upward price pressure, more inventory is clearly needed.  Homebuilders are raising production, but too late and at too small increments.  Though the most recent housing starts of a 1.1 million annualized pace in November was a solid 30 percent increase from the prior year, the pace is still insufficient.  For all of 2013, housing starts look to finish at 930,000. The long-term, 50-year annual average is 1.5 million housing starts each year.  So the recent past six consecutive years of less than one million new housing units was bound to make an impact on the market.  Existing home inventory is at a 13-year low while newly constructed home inventory is at a 50-year low. 
However, can shadow inventory then save the day in pumping out more homes available for sale?  There are still 2.3 million mortgages that are seriously delinquent (more than 90 days late) or already in the foreclosure process.  This is not counting underwater homeowners, but people who are not paying their mortgage.  Surely, the majority of these distressed mortgages will not ever be made current.  They will instead become REO properties at some point.  Unfortunately, even though 2.3 million seriously delinquent mortgages sound large, they are significantly smaller than what the number had been.  Four years ago, there were 4.3 million in a similar state.  Just one year ago, there were 2.9 million delinquent mortgages.  The bottom line is that we should expect less of an increase in shadow inventory turning into visible inventory. 
Due to differing foreclosure processes, however, some states have a much larger overhang of shadow inventory than others.  In places like Arizona, a homeowner is quickly evicted for being delinquent.  In other places, principally the judicial foreclosure states, the court system has the final say and the overall process tends to drag out for a long time – with a 2 - 3 year time span not uncommon.
What are the judicial states with continuing, plentiful shadow inventory that can hit the market?  Interestingly, they are in states where inventory shortage is not a problem.  Home-price growth has been sluggish and these states still have a shadow looming over their market.  [Price data used is from the NATIONAL ASSOCIATION OF REALTORS®] The following table shows the serious delinquency rates now and at peak (usually in 2008 or 2009, ranked by the latest home price appreciation for each of the 50 states). 
As one can see, where the inventory would be most welcome, there appears just not enough shadow inventory to help relieve home prices.  The top three, fastest-appreciating states of Nevada, California, and Arizona have reduced seriously delinquent mortgages by roughly 60 - 80 percent.   On the opposite end of those states where seriously delinquent mortgages have been cut by only a little (to the tune of 10 percent or so) - namely New Jersey, New York, Vermont, Delaware, Connecticut, and New Mexico – home price growth has been sluggish.  There are few exceptions to the rule.  Washington D.C., for example, has made only slight progress in reducing seriously delinquent mortgages, yet home price growth has been strong, no doubt due to the stronger employment conditions and from the fact that it already had a relatively low delinquency peak figure.
Lawrence Yun is the chief economist for the NATIONAL ASSOCIATION of REALTORS®. He will be sharing his insider insights on the national and regional housing markets in this new, exclusive column for the Power Broker Report.

Wednesday, December 18, 2013

10 Grammar Mistakes Almost Everyone Makes on the Web

10 Grammar Mistakes Almost Everyone Makes on the Web
With more of your communications going over the web, you, like other business people, may worry about grammar. You don't want to get nailed by the grammar police or, worse, make a goofy grammatical mistake that goes viral. Here are 10 grammar errors to watch out for as you post and comment. 

1. "Fewer" or "less?" Use "fewer" when referring to a lower number, as in: "They have fewer than 100 workers." Use "less" when referring to a smaller amount, as in: "We need to get there in less time."

2. "More than," not "over." When referencing a greater number, use "more than," as in: "We have more than 15 new clients." "Over" is simply incorrect. It indicates a physical position in space, or can mean "instead of," but not "more than."

3. "Affect" or "effect?" Think what these words mean as verbs and you'll use them correctly as nouns. To "affect" something means to influence it. So if you influence something, you will have an "affect" on it. To "effect" something is to cause it. So if it's the result of something, it's an "effect."

4. "Me" or "I?" Always use "me" following a preposition, as in: "for me," "with me," "to me," etc. But people can get tripped up when something else is added. They'll say: "for my company and I" or "to my partners and I." Check yourself by leaving out the other element. You'd never say "for I."

5. "I could care less." People say this to be dismissive, but it's incorrect. If you could care less about something, that literally means you care more about it now than you ultimately might! People forget to include the "not" in the phrase. The correct statement is: "I couldn't care less."
6. "Nauseous" or "nauseated?" "Nauseous" refers to something that's sickening to contemplate, but it's not how a person can feel. The correct expression is: "I feel nauseated."

7. Irregardless. This isn't a word. The word is "regardless."
8. The Oxford comma. This is the name for the last comma in a series of three or more items. It appears before the word "and" or "or" at the end of the list. For example: "The shirt comes in Small, Medium, Large, and Extra Large." You can omit the Oxford comma, but there will be times when the sentence won't make sense. Better to always put the Oxford comma in there.

9. Commas for clarity. Always read your copy out loud to see if you need a comma to make the meaning clear. "Let's eat my friend" is not the same invitation as: "Let's eat, my friend."
10. Quotation marks and punctuation. Punctuation belongs inside quotation marks.

The best way to make sure your grammar is correct is to check an authoritative source. PR professionals say two of the best are The Elements of Style and the AP Stylebook. Here's to your continued success with grammatically correct online communications, as you keep putting together your best year ever.... Enjoy a great month!

Thursday, October 10, 2013

DFW pre-owned home sales up 20 percent in 2013

DFW pre-owned home sales up 20 percent in 2013
Through the third quarter, pre-owned home sales in North Texas are up 20 percent from 2012 levels. And median sales prices are 10 percent higher than they were in the first nine months of last year.  This year’s increase in home sales and prices has propelled the Dallas-Fort Worth pre-owned home market to above where it was before the recession.  But with mortgage rates rising, analysts wonder how much longer the large double-digit gains will continue.  “I keep thinking it’s going to slow down, but it hasn’t so far,” said Dr. James Gaines, an economist with the Real Estate Center at Texas A&M University. “Yes, the rates are higher and the builders may be feeling it a little, but really, the rates are still very good and don’t seem to be hindering sales much.  “Also, if people expect the rates to continue to increase, they’ll buy now rather than wait.”
- Dallas Morning News, October 8, 2013

Friday, September 27, 2013

The largest real estate company in the world goes public

 The largest real estate company in the world goes public--

RE/MAX set to go public Wednesday

All eyes in the world of real estate world will be watching Wednesday as franchisor Re/Max Holdings Inc. goes public, an event that expected to shed light on investor sentiment about the housing recovery.  “We know that the real estate market has cooled off since the spike in rates, and while Lennar just told us that the home building business is doing much better than we thought, this may not be the ideal moment for a real estate brokerage play like RE/MAX to be coming public,” Mad Money host Jim Cramer said today.  “I do think Re/Max is worth watching, if only to see which way the market jumps — it could be an important tell for everything associated with residential real estate.”
According to Nasdaq.com, shares in Re/Max will begin trading on Wednesday, Oct. 2, sharing the limelight with Burlington Coat Factory.  Re/Max has said it expects to net at least $177 million from the initial public offering.
The franchise network serves more than 90,000 agents in 6,300 offices and 90 countries. The IPO of 10 million shares is expected to be priced at between $19 and $21 per share.  Re/Max will also grant underwriters of the IPO a 30-day option to buy up to 1.5 million additional shares.  If underwriters fully exercise their option to purchase additional shares, the net proceeds will total $205.2 million, the company said in an amendment to its S-1 registration statement with the Securities and Exchange Commission.
-         Inman News, September 26,2013

Thursday, September 26, 2013

What's Trending in Real Estate

What's Trending in Real Estate

These six hot topics are gaining traction.
Be sure to stay ahead of the curve.
  1. Generation X jumps to the top. Generation X—those ages 33 to 47—made up the largest chunk of home buyers, at 31 percent, between July 2011 and June 2012, according to the National Association of REALTORS®’ “Home Buyer and Seller Generational Trends” report. Generation Y—those 32 and younger—made up the second-largest group, at 28 percent, followed by younger baby boomers (18 percent) and older baby boomers (14 percent).
  2. Mobile real estate search. Consumers are taking to their mobile devices in droves for real estate searches. According to online marketing firm The Search Agency, real estate ad clicks on smartphones grew 10.7 percent between the fourth quarter of 2012 and the first quarter of 2013. Tablet ad clicks shot up even higher, increasing 20.2 percent quarter over quarter—and 87 percent year over year. It all goes to show that consumers are becoming far more comfortable searching for real estate on mobile devices.
  3. Paperless business. Want to spend more time helping clients and less time dealing with all that paperwork? There’s a plethora of online tools that allow you to file and manage documents electronically, One option is RES.NET. In addition to keeping all his paperwork stored securely online, San Diego sales associate Jesse Zagorsky of SDREOSold likes that it lets him link his profile to all of his transactions. It also allows him to communicate with everyone involved in each transaction. “The system [frees] up my time to spend helping customers,” he says. And don’t forget DocuSign, a program for creating and transmitting documents electronically from any device. (Discounts are available to NAR members through the REALTOR Benefits® Program.)
  4. Reversal of fortune in inventory? The complaint is widespread: Housing inventory has been stubbornly low in the past year. Well, perhaps that’s starting to change. The number of listings nationwide ticked up by 4.3 percent to 1.9 million homes on the market in June, according to realtor.com®. That’s the highest monthly jump in a year, and rising home prices could persuade more sellers to throw their homes on the market in the coming months.
  5. Drone photography. The use of miniature remote--controlled -helicopters for taking aerial photos and -video of properties is piquing interest among real estate agents. But it’s important to note that this marketing practice currently violates Federal Aviation Authority rules pertaining to the use of drones for commercial purposes. The agency is expected to release proposed rules for such use later this year. Congress has given the FAA until September 2015 to finalize a plan. Six states have put laws on the books restricting the public and private use of drones. NAR recommends that REALTORS® avoid using drones until the FAA has released clearer rules.
  6. Micro apartments. In some major metropolitan areas, people are living large in smaller spaces. So-called micro apartments—which are often less than 200 square feet—are becoming popular in San Francisco, New York, Seattle, Boston, Providence, R.I., and Portland, Ore., reports CNN Money. But it’s not only those just-out-of-college grads flocking to these tiny units. In some “micro buildings,” the average tenant is 33 years old and makes less than $35,000 a year, according to Reuters.

Saturday, August 17, 2013

First Look at the Dallas Cowboys New Indoor Training Facility

First Look at the Dallas Cowboys New Indoor Training Facility

dallas-cowboys-frisco-indoor-training-facility-drawing-concept
The Dallas Cowboys will share the complex with the Frisco Independent School District.    The stadium will seat a minimum of 12,000 fans for games. The practice facility will also be a multi-use facility that can be refigured to accommodate 22,000 seats for other events like concerts.  Current plans are that the Frisco ISD will have use of the facility on Thursday and Friday evenings for football games. As the first school district in the state with an indoor stadium, it will also be an attractive destination for “Blue Star Stadium” to host potential Texas playoff games as well.   Frisco will oversee design and construction of the stadium and parking facilities while the Dallas Cowboys will oversee design and construction of their headquarters.
-                      Dallas Morning News, August 16, 2013

Friday, August 16, 2013

Rising home prices in DFW brings influx of new listings



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Rising home prices in DFW brings influx of new listings
Dallas-Fort Worth's rising home prices -- reaching double-digit increases year-over-year -- have prompted more homeowners to put their houses on the market.   The North Texas area increased its new listings by 18 percent year-over-year in July to 10,176 listings, after the median home prices rose 14 percent in the same time period. The median home price in Dallas was $192,500. In the U.S., the number of new home listings rose 14 percent, with a median home price of $282,034.  Dallas-Fort Worth area homes sold at an average 98.7 percent of list price, compared with the national average of 99.1 percent of list price, according to the data.  With the new listings and an increase in inventory, home prices will moderate in coming months, but the housing market shows no signs of stopping.
-          Dallas Business Journal, August 12, 2013

Friday, August 9, 2013

Obama Administration to “Social Engineer” Neighborhoods

Obama Administration to “Social Engineer” Neighborhoods
In a move some claim is tantamount to social engineering, the Department of Housing and Urban Development is imposing a new rule that would allow the feds to track diversity in America’s neighborhoods and then push policies to change those it deems discriminatory.   The policy is called, "Affirmatively Furthering Fair Housing."  It will require HUD to gather data on segregation and discrimination in every single neighborhood and try to remedy it.  HUD Secretary Shaun Donovan unveiled the federal rule at the NAACP convention in July.   "This is just the latest of a series of attempts by HUD to social engineer the American people," said Ed Pinto, of the American Enterprise Institute. "It started with public housing and urban renewal, which failed spectacularly back in the 50's and 60's. They tried it again in the 90's when they wanted to transform house finance, do away with down payments, and the result was millions of foreclosures and financial collapse.”
-          Fox News, August 7, 2013

Thursday, August 8, 2013

Dallas-area home prices inch ahead of pre-recession levels

Dallas-area home prices inch ahead of pre-recession levels

A strong spring selling market has finally pushed Dallas-area home prices ahead of where they were before the recession.
The gain in the monthly Standard & Poor’s/Case-Shiller Home Price Index isn’t much — up 1 percent from where Dallas-area prices were in June 2007. That was just before the housing crash and economic meltdown hammered residential values across the country.
The latest Case-Shiller report is another strong sign for the Dallas area’s economy and real estate market, said D’Ann Petersen, an economist at the Federal Reserve Bank of Dallas.
“Other measures of North Texas prices indicate the same improvement,” Petersen said. “While the North Texas market suffered during the downturn, the depth of the decline was not as bad as many other areas of the country.”
Prices of pre-owned homes in the Dallas area were up 7.6 percent in May from the same month in 2012, Case-Shiller reported Tuesday.
It’s the largest year-over-year percentage gain since Case-Shiller started tracking Dallas home prices in 2000.
At the worst of the housing market downturn in early 2009, Dallas-area prices were off by about 11 percent in the Case-Shiller index.
Both Dallas and Denver in May were about 1 percent above pre-recession price levels.
“This is the first time any city has made a new all-time high,” the Case-Shiller report said.
Fueled by energy
Jed Kolko, the chief economist with online real estate firm Trulia Inc., said both Dallas and Denver have strong economies fueled in part by the robust energy sector.
“And they both had a milder housing crash to bounce back from,” Kolko said. “The places now with the biggest home price increases are those having the rebound off the lowest bottoms.”
The rate of home price growth in the Dallas area in May trailed the 12.2 percent nationwide rise in the index.
The biggest year-over-year price increases were in San Francisco, 24.5 percent, and Las Vegas, 23.3 percent.
While Dallas and Denver are ahead, nationwide home values are still about 24 percent lower in the Case-Shiller report than they were before the recession. The biggest deficits are in Las Vegas, still down 51 percent from the peak, and Phoenix, down 41 percent.
“On a relative basis, I guess it is a big deal as one compares Dallas to all the other major metropolitan areas around the country,” said James Gaines, an economist with the Real Estate Center at Texas A&M University. “It sure beats still being down by 25 percent or more as some of the cities are.”
The prices in Dallas and Denver really haven’t caught up, Kolko points out.
“Remember, since the peak of the bubble, there has been modest inflation,” he said. “In real terms, prices are still a little lower than they were then.”
Case-Shiller’s index tracks the prices of specific single-family homes in each metropolitan area. The index survey does not include condominiums and townhouses.
Record levels
North Texas home prices have been at record high levels for several months based on sales of houses by real estate agents.
In June, the median price of homes sold through Realtors’ multiple listing services was up 13 percent from a year earlier to $185,820.
Total pre-owned home sales through the first half of 2013 were up 19 percent from the same period a year ago, a new high for the six-month period.
MLS sales prices for pre-owned single-family homes in North Texas last month were about 45 percent greater than they were in January 2009, according to numbers from the Real Estate Center at Texas A&M.
But the types of properties that sell each month, not just overall changes in values, can heavily influence those numbers.
A decline in the number of distressed and previously foreclosed homes on the market has no doubt had a big impact on overall median home sales prices and values. Foreclosure filings this year are running almost 40 percent below 2012.
But not every neighborhood is experiencing a boom in home prices.
“We have seen very little, if any, change in the average sale price of properties,” said Charles Wilmut, who lives in Irving’s Hackberry Creek neighborhood. “It appears the brass ring is out there, but we are not getting it.”
Tim Slavin, who lives in Frisco, fretted for months reading about increasing North Texas home prices while his home’s value continued to lag. He was pleased by a recent appraisal one of his neighbors got.
“The appraisal came back closer to what I bought my house for in 2007,” Slavin said. “I hope the home values continue to improve.”
Improving prices should bring more homes to the market, which will relieve the lack of inventory. The number of homes for sale in North Texas has been at a 20-year low this year.
“There are many homeowners who might have wanted to move up but could not sell their homes without taking a loss,” said David Brown, a housing analyst with Metrostudy Inc. “They are now capable of selling their existing home and purchasing a move-up home.”
S&P Case-Shiller home price index

Source: Dallas News

Wednesday, July 31, 2013

JUNE 2013 HOUSING SUMMARY FROM REALTOR.COM

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  • real estate trends

June 2013 Real Estate Data

Released - 7/17/2013 | Source - realtor.com , operated by Move, Inc

Monthly Housing SummaryDownload this month's report

June 2013 data reveals both year-over-year median list prices and month-over-month inventories rose significantly in key California markets (with increases of over 20 percent and over 40 percent respectively). The national increase in median list price remained 5.27 percent higher than a year ago. National median age of inventory increased by just one day (at 80 days) in June, compared to 79 days in May 2013.
Nationally, June 2013 inventories rose by 4.26 percent over May 2013 and median list prices were just 0.45 percent higher than May prices. Despite six consecutive months of steady month-over-month growth, inventories continue to be down by 7.29 percent on a year-over-year basis.
For more information on the monthly real estate trend reports released by realtor.com, please contact communications@realtor.com
Search RankingArea / RegionMedian List PricesTotal ListingsMedian Age of Inventory
Current MonthPrevious MonthUnited States$199,9005.27%0.45%1,931,713-7.29%4.26%80-15.79%1.27%
Jun-13May-13City$YYMM#YYMM#YYMM
11Chicago, IL$209,00016.76%4.76%67,158-6.93%10.19%82-17.17%1.23%
22Dallas, TX$219,90010.01%0.00%16,239-20.83%1.10%47-28.79%2.17%
33Detroit, MI$130,00031.31%4.00%16,069-25.66%-0.78%44-27.87%-2.22%
44Philadelphia, PA-NJ(PA)$235,000-2.04%0.04%29,442-4.42%-0.41%85-14.14%6.25%
55Boston-Wrcstr-Lwrnce-Lowll-Brcktn, MA-NH(MA)$349,9009.38%0.00%18,462-35.10%-9.98%54-27.03%20.00%
66Los Angeles-Long Beach, CA$439,00029.50%2.57%26,853-4.34%45.69%62-16.22%12.73%
77Atlanta, GA$184,90015.63%1.87%42,35910.90%2.84%75-5.06%4.17%
88New Haven-Brdgprt-Stmfrd-Dnbry-Wtrbry,CT$345,0004.86%-1.43%16,929-11.44%2.62%82-13.68%9.33%
910Tampa-St. Petersburg-Clearwater, FL$164,35214.13%-0.74%16,565-8.58%-2.79%76-22.45%-5.00%
109Fort Worth-Arlington, TX$180,0005.94%0.07%8,722-16.70%0.81%52-22.39%1.96%
1111Orlando, FL$183,27715.27%-0.93%9,753-7.73%-1.11%61-20.78%-8.96%
1213Miami, FL$279,0007.76%0.00%14,2512.19%-0.16%75-14.77%1.35%
1318Orange County, CA$565,00031.70%2.21%11,432-12.89%51.54%53-32.91%15.22%
1415Newark, NJ$299,9003.45%0.00%11,598-14.94%3.53%81-21.36%9.46%
1516Hartford, CT$245,5002.51%-1.76%8,691-4.79%3.96%75-14.77%10.29%
1612Fort Lauderdale, FL$189,00014.55%2.16%12,682-13.79%-0.49%68-24.44%-5.56%
1714Washington, DC-MD-VA-WV(VA)$410,0002.76%-3.32%14,318-2.37%6.57%58-7.94%34.88%
1817New York, NY$379,00011.80%1.07%20,365-20.27%-0.15%88-12.00%2.33%
1919West Palm Beach-Boca Raton, FL$239,00013.81%-0.42%17,370-14.52%-2.91%109-6.03%11.22%
2020Denver, CO$295,0009.30%1.72%7,636-30.14%2.06%27-47.06%-3.57%
2123Cleveland-Lorain-Elyria, OH$125,000-3.77%-3.10%14,648-7.60%5.87%79-19.39%-1.25%
2226San Diego, CA$445,00021.92%4.71%9,302-17.55%18.14%51-30.14%4.08%
2321Austin-San Marcos, TX$255,0006.29%0.00%9,535-13.62%4.73%53-17.19%8.16%
2427Monmouth-Ocean, NJ$325,0003.17%1.59%11,250-22.80%2.33%83-21.70%5.06%
2529Phoenix-Mesa, AZ$234,90030.50%-0.04%16,7986.15%5.69%51-10.53%4.08%
2624Columbus, OH$149,9000.00%0.00%12,501-7.28%3.18%71-18.39%5.97%
2728Riverside-San Bernardino, CA$249,90023.10%2.00%23,94613.91%44.72%75-8.54%11.94%
2822Baltimore, MD$259,9003.96%0.93%15,194-5.47%4.08%79-8.14%21.54%
2932Oakland, CA$492,25036.77%-0.56%3,057-21.21%12.14%17-45.16%6.25%
3034Middlesex-Somerset-Hunterdon, NJ$325,0008.33%1.57%7,731-21.94%2.92%79-19.39%6.76%
3133Las Vegas, NV-AZ(NV)$155,00024.00%3.33%17,480-20.47%-0.85%80-19.19%-1.23%
3231St. Louis, MO-IL(MO)$164,9000.00%-2.94%13,427-17.30%0.00%72-18.18%-1.37%
3325Philadelphia, PA-NJ(NJ)$184,900-0.05%1.32%12,919-3.79%3.14%107-6.96%0.94%
3430Raleigh-Durham-Chapel Hill, NC$227,5005.81%0.66%11,808-6.11%-0.14%79-11.24%8.22%
3535San Antonio, TX$199,5327.86%0.77%8,786-15.31%-0.73%63-17.11%-1.56%
3639Houston, TX$199,90014.23%0.45%25,109-10.13%1.52%61-15.28%3.39%
3738Pittsburgh, PA$144,9000.63%-1.36%13,546-6.61%-0.19%76-24.00%-5.00%
3836New Orleans, LA$175,0004.48%0.00%6,723-12.56%0.89%89-11.00%3.49%
3937Sacramento, CA$289,00034.42%1.44%9,30510.99%10.60%52-21.21%8.33%
4040Charlotte-Gastonia-Rock Hill, NC-SC(NC)$195,00011.43%-1.52%13,259-6.06%0.55%78-14.29%1.30%
4141Indianapolis, IN$139,9003.71%0.29%11,856-17.13%-1.22%65-20.73%-2.99%
4242Washington, DC-MD-VA-WV(MD)$297,9008.33%-0.67%10,526-10.65%6.21%70-12.50%25.00%
4343Jacksonville, FL$215,00019.51%0.05%8,971-13.14%7.42%76-27.62%4.11%
4446Portland, ME$269,0003.46%2.38%5,173-9.09%6.16%82-18.00%3.80%
4545Minneapolis-St. Paul, MN-WI(MN)$225,12313.13%0.06%14,471-12.32%9.65%46-29.23%-6.12%
4644Nashville, TN$217,50011.60%1.21%11,224-12.25%1.39%59-20.27%5.36%
4747Ann Arbor, MI$195,90015.30%-0.05%3,252-19.88%2.33%55-28.57%-1.79%
4848Oklahoma City, OK$160,4544.70%0.35%6,888-12.43%-1.67%66-8.33%8.20%
4949San Francisco, CA$799,00014.31%-3.15%3,150-21.70%3.86%40-20.00%14.29%
5052Sarasota-Bradenton, FL$254,9916.25%-1.55%6,706-10.92%-7.52%89-21.93%-3.26%
5151Ventura, CA$499,90026.65%2.08%3,337-0.63%43.53%65-18.75%10.17%
5250Richmond-Petersburg, VA$213,2736.64%1.56%6,323-2.80%5.63%67-15.19%11.67%
5355San Jose, CA$675,00025.00%-0.59%3,021-24.78%11.72%33-32.65%13.79%
5454Charleston-North Charleston, SC$240,0000.42%0.00%7,840-1.21%2.86%102-15.70%7.37%
5553Louisville, KY-IN(KY)$154,0006.28%2.67%5,105-13.02%2.80%65-20.73%3.17%
5656Birmingham, AL$169,9000.59%0.00%9,332-8.39%4.34%92-11.54%0.00%
5757Fort Myers-Cape Coral, FL$229,0005.53%-5.37%9,216-16.26%-3.16%104-9.57%-1.89%
5859Greenville-Spartanburg-Anderson, SC$169,9002.97%0.00%10,249-0.09%2.99%97-11.01%3.19%
5958Akron, OH$122,500-5.70%-1.92%4,514-3.57%5.89%78-12.36%-1.27%
6067Portland-Vancouver, OR-WA(OR)$289,90011.54%1.72%7,254-21.11%6.13%53-28.38%8.16%
6163Fresno, CA$220,00022.29%0.05%2,290-8.80%9.46%48-12.73%-4.00%
6262Tulsa, OK$149,500-0.07%-0.27%4,917-14.53%2.37%61-14.08%1.67%
6365Grand Rapids-Muskegon-Holland, MI$149,9007.07%0.00%5,349-23.14%-4.41%55-30.38%-1.79%
6464Wilmington-Newark, DE-MD(DE)$214,9007.45%0.00%3,611-4.47%3.20%81-15.63%2.53%
6561Kansas City, MO-KS(MO)$145,0004.32%0.10%8,170-11.69%2.84%72-16.28%1.41%
6660Milwaukee-Waukesha, WI$184,4503.10%2.47%9,038-16.31%1.44%68-33.33%-1.45%
6768Cincinnati, OH-KY-IN(OH)$144,900-2.75%-0.75%11,169-6.75%1.36%81-12.90%2.53%
6866Melbourne-Titusville-Palm Bay, FL$149,90015.40%0.00%6,11313.10%-0.11%88-12.87%0.00%
6977Daytona Beach, FL$179,9002.80%0.50%5,829-14.03%0.38%89-25.21%-6.32%
7073Kansas City, MO-KS(KS)$189,9001.44%2.26%4,787-15.26%2.77%58-23.68%5.45%
7170Greensboro-Winston Salem-High Point, NC$149,9000.00%0.00%10,267-5.02%-1.72%95-12.04%6.74%
7269Little Rock-North Little Rock, AR$159,000-2.45%2.25%5,0986.23%2.31%79-8.14%1.28%
7374Harrisburg-Lebanon-Carlisle, PA$169,990-2.86%-2.81%5,066-7.81%1.69%95-12.84%-3.06%
7472Dayton-Springfield, OH$105,0000.00%2.04%8,26417.60%14.06%80-10.11%3.90%
7575Knoxville, TN$174,900-0.06%0.00%10,104-1.49%1.53%95-12.84%5.56%
7676Memphis, TN-AR-MS(TN)$152,0002.36%1.40%5,151-15.39%0.92%76-21.65%4.11%
7771Fort Pierce-Port St. Lucie, FL$159,9006.67%-3.03%5,529-11.25%-0.36%112-7.44%4.67%
7880Seattle-Bellevue-Everett, WA$389,95015.03%0.24%5,926-23.17%7.30%30-47.37%3.45%
7988Mobile, AL$181,350-8.24%-1.92%6,546-7.08%-0.12%107-15.75%1.90%
8089Wilmington, NC$245,4654.90%2.32%5,745-7.90%1.61%117-13.33%-0.85%
8186Allentown-Bethlehem-Easton, PA$179,000-0.50%-0.50%5,039-10.26%2.79%80-20.00%-2.44%
8282Baton Rouge, LA$179,9005.58%0.00%3,595-8.94%0.03%81-11.96%3.85%
8383Naples, FL$349,9002.91%3.52%5,523-23.25%-10.49%121-15.97%1.68%
8481Buffalo-Niagara Falls, NY$139,900-3.52%0.00%3,964-10.84%7.28%58-20.55%11.54%
8585Fort Wayne, IN$103,900-1.05%1.86%2,888-12.72%3.62%60-18.92%1.69%
8678Trenton, NJ$247,500-0.96%1.23%3,166-8.39%3.06%94-11.32%8.05%
8784Syracuse, NY$149,900-0.07%0.00%4,390-8.92%5.23%75-23.47%2.74%
8890Rochester, NY$139,900-6.11%-3.45%5,546-8.44%3.59%62-13.89%6.90%
8987Colorado Springs, CO$239,9004.35%0.09%5,0207.17%4.47%66-7.04%11.86%
9079Salt Lake City-Ogden, UT$225,0007.30%2.27%6,775-15.54%7.30%47-34.72%2.17%
9191Columbia, SC$159,0002.58%2.58%5,246-9.33%1.39%91-9.90%3.41%
9298Albany-Schenectady-Troy, NY$224,900-9.30%-0.04%6,157-9.31%4.68%84-24.32%1.20%
93102Myrtle Beach, SC$170,0006.95%0.60%8,404-3.10%-0.02%123-11.51%1.65%
9495Toledo, OH$108,5003.43%-0.46%3,741-14.61%2.61%76-19.15%2.70%
9592Stockton-Lodi, CA$209,95031.30%5.11%2,3242.70%10.19%53-15.87%8.16%
96101Peoria-Pekin, IL$129,500-4.00%0.00%2,133-12.97%5.44%65-17.72%-7.14%
97106Bakersfield, CA$175,00021.53%3.00%2,155-0.51%12.47%47-17.54%-6.00%
9896York, PA$165,0000.00%0.09%2,857-6.33%1.71%84-9.68%5.00%
9994Washington, DC-MD-VA-WV(DC)$465,00013.29%-2.11%2,037-14.20%7.44%51-12.07%41.67%
10093Lakeland-Winter Haven, FL$139,90012.82%-0.07%3,129-8.96%-2.37%82-21.90%-6.82%
10197Reading, PA$167,000-7.17%0.00%3,650-8.48%2.33%102-22.14%-1.92%
10299South-SC-RSA$267,813-0.81%-0.77%6,445-1.41%0.99%150-8.54%4.17%
103103Boise City, ID$197,29712.74%-0.17%3,362-1.35%7.31%48-21.31%-4.00%
104105Santa Barbara-Santa Maria-Lompoc, CA$779,00022.29%0.52%1,134-22.28%3.09%65-24.42%8.33%
105104Honolulu, HI$495,00015.65%2.06%2,947-22.67%-3.91%61-20.78%3.39%
106111Pensacola, FL$178,900-0.06%0.38%3,686-2.80%5.59%97-19.17%2.11%
107112Corpus Christi, TX$175,0003.55%0.00%1,831-17.19%-2.19%82-18.00%2.50%
108113Charleston, WV$147,000-1.93%0.89%1,159-8.67%3.02%73-10.98%-5.19%
109100Madison, WI$224,9007.10%-0.04%4,002-9.82%3.01%74-26.00%10.45%
109110Wichita, KS$134,9000.30%0.00%3,439-10.21%2.72%70-11.39%-5.41%
111115Boulder-Longmont, CO$393,00019.13%0.80%2,452-26.52%2.55%46-31.34%0.00%
112107Central-FL-RSA$159,9006.67%-0.06%4,260-7.61%-2.54%116-10.08%-2.52%
113109Jersey City, NJ$329,00010.03%3.13%2,374-10.35%9.75%66-23.26%8.20%
114108Des Moines, IA$167,9001.82%-4.00%3,849-13.13%0.92%62-21.52%-1.59%
115121Tyler, TX$178,950-2.19%1.88%1,253-8.21%-1.96%83-9.78%5.06%
116116Albuquerque, NM$200,0000.50%0.25%4,6206.06%5.48%66-12.00%-1.49%
117123Asheville, NC$250,0000.04%0.40%2,759-12.91%-2.47%100-13.79%0.00%
118119Shreveport-Bossier City, LA$182,9004.57%-0.60%2,19910.78%0.96%7310.61%2.82%
119118Tucson, AZ$183,00010.98%1.72%5,7651.30%-4.88%74-10.84%2.78%
120120Spokane, WA$185,000-2.12%0.05%3,708-3.44%4.75%63-18.18%6.78%
121114Omaha, NE-IA(NE)$155,900-0.32%-2.38%3,689-13.06%3.86%49-22.22%-2.00%
122125Fort Collins-Loveland, CO$282,70010.86%0.96%2,621-13.98%5.56%58-26.58%-3.33%
123124Reno, NV$249,00024.56%5.53%2,512-24.63%7.72%61-34.41%-6.15%
124122Lexington, KY$159,900-3.09%0.00%4,498-5.92%0.36%78-15.22%0.00%
125130Tallahassee, FL$155,0001.48%0.00%2,185-6.26%1.96%95-11.21%-4.04%
126126West-AZ-RSA$269,7008.31%-1.93%2,134-11.16%5.75%80-20.79%2.56%
127127South Bend, IN$99,900-2.73%0.00%1,799-13.92%2.27%73-23.96%-5.19%
128129Springfield, IL$119,900-4.00%1.31%1,3919.18%2.88%788.33%6.85%
129132Macon, GA$129,000-2.27%-0.69%2,556-3.58%3.23%94-6.00%5.62%
130133El Paso, TX$153,0002.01%2.03%3,8638.60%1.60%88-7.37%0.00%
131128Chattanooga, TN-GA(TN)$183,000-1.03%0.27%2,909-1.36%2.43%90-15.09%2.27%
132117Roanoke, VA$169,900-2.91%0.00%2,116-1.40%6.55%81-11.96%10.96%
133134Norfolk-Virginia Bch-Newport News, VA-NC(VA)$229,000-0.39%0.66%11,919-0.96%4.76%81-14.74%3.85%
134131Columbia, MO$174,9003.24%0.58%965-14.60%-0.92%61-16.44%7.02%
135135Gainesville, FL$154,9001.31%0.58%1,961-3.97%2.67%100-16.67%2.04%
136137Punta Gorda, FL$189,0002.19%-5.45%2,4621.74%-7.79%109-12.80%-5.22%
137136Ocala, FL$129,0000.58%-0.77%3,53111.28%2.47%104-11.11%-0.95%
138138Portland-Vancouver, OR-WA(WA)$269,0008.95%3.99%2,310-15.97%5.67%71-33.02%10.94%
139142Salem, OR$214,95010.29%2.41%2,357-9.31%3.56%86-13.13%7.50%
140139Anchorage, AK$296,0004.96%-2.95%1,107-13.04%13.77%39-13.33%2.63%
141140Huntsville, AL$179,900-2.49%0.00%4,7085.85%0.32%1044.00%4.00%
142143Santa Fe, NM$389,900-2.28%0.23%2,08410.21%13.82%106-23.19%3.92%
143144Iowa City, IA$210,4506.29%0.21%1,108-10.36%-6.97%74-19.57%5.71%
144141Fayetteville, NC$149,000-0.60%-0.67%2,6442.01%3.36%1031.98%5.10%
145145Cedar Rapids, IA$144,900-2.42%0.00%1,411-9.32%2.25%67-16.25%4.69%
146146Pueblo, CO$148,5009.27%-0.93%1,0300.78%5.32%72-8.86%-2.70%