Dallas-Area Home Prices Hit Record Levels, Report Shows
July 31st, 2013 | by Update Metro
Comfortable rooms and wonderful outdoor spaces greet you at 505 King Ranch Road in Southlake. This five-bedroom home is listed by Wynne and Perry Moore for $1,150,000.
Dallas-area home prices reached record levels in May 2013, with the metro area surpassing its pre-financial crisis peak set in June 2007, according to the latest S&P/Case-Shiller Home Price Indices. This is the first time any city has made a new all-time high.
Data through May 2013 showed increases of 2.5 percent and 2.4 percent in May over April for the 10- and 20-city composites that the S&P/Case-Shiller tracks.
Dallas was up 2.0 percent May over April and 2.3 percent April over March. Homes that are priced well and in good condition are selling briskly, agents with Briggs Freeman Sotheby’s International Realty report.
The Dallas Morning News made these observations in its coverage:
The Case-Shiller Index value for Dallas is now about 1 percent higher than at the previous peak in June 2007.
At the worst of the housing market downturn – in early 2009 – Dallas-area residential values were down about 11 percent in the closely watched housing survey.
Nationwide home values are still about 24 percent lower in the Case-Shiller report than they were before the recession caused major price declines in many U.S. markets.
Click here to read the full article from the Dallas Morning News. Click here to read the full report from S&P/Case-Shiller.
Click here to read more news about real estate and the economy in Dallas-Fort Worth.
Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout the Metroplex and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. For more information on escapes and second homes, ranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.
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