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
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