DFW-Area Homes Gain $55 billion in Value in 2015
With the big price gains, Dallas-Fort Worth area homes have increased about $55 billion in value this year, according to a new report by Zillow.com. A just-released study by the Internet home marketing firm estimates that DFW homes are worth $411 billion – up from $356 billion a year ago. That’s a gain of more than 15 percent. Nationwide, Zillow estimates that the U.S. housing stock is worth $28.5 trillion, up from $27.5 trillion at the end of 2014. “This reminds us of the large role housing plays in the overall economy,” said Zillow Chief Economist Svenja Gudell. “Total home value growth slowed this year, but there was still a significant increase in overall value, and many markets are more valuable than they’ve ever been. “Americans are spending a lot of money on housing, and that will make affordability an important issue next year.”
- Dallas Morning News, December 30, 2015
Dallas Home Prices Now Almost 20% Higher Than Before Recession
Dallas-area home prices are at an all-time high and are now almost 20 percent higher than their prerecession peak. Dallas-area prices were up 9.3 percent year-over-year in the latest Standard & Poor’s/Case-Shiller Home Price Index report. There’s no sign of a Dallas home market cool down in the latest nationwide price report. In fact Dallas-area home prices are at an all time high in the Case-Shiller report. Local prices have jumped almost 40 percent since early 2012.
Case-Shiller’s study tracks over time the prices of specific single-family homes located in each metropolitan area. The index survey does not include condominiums and townhouses. It only covers pre-owned properties — not new construction.
- Dallas Morning News, December 29, 2015