It’s absolutely necessary to ask about HousingWire, because lately we noticed amiss things occurring in housing report. In this moment a lot of places are saying that the Dallas property market is booming – according to this, we have the top of 10 lists for property market in review of different companies.
But, when the named booming market started to be overheating one? Can we determine, when concretely San Francisco intersects the line? Or, has Dallas intersect it yet? It’s difficult to find the answer for this question, but just in this moment we have some doubts about this situation.
Just in spring, while the prices for homes incremented 6.9% nationwide, the growth was 10% (or more) only in the area of Dallas.
Some time later, in Real Property Market Reports, located in Zillow, Dallas was the first or second faster in the list of appreciating home market.
According to the information of report, house prices of Dallas-Fort Worth incremented about 12% (to nearly $193,900), and the rent prices incremented 3.6% ($1,543). When the housing inventory became lower by 20.6%.
Now, according results of the latest study, made by National Realtors Association, out the biggest demand for single-family homes, now is starting to go back, to the historic, previous average ratio – and in this list of demand, Dallas is the second.
According to an information of list, newly made by realtor.com, Dallas really was one the firsts in the list of the hottest booming property market in summer.
So, it’s true that Dallas’ property market now is booming, but… how much? After all changes occurred with San Francisco, it’s necessary to see difference between overheating and booming.
Actually, a study made by Company of Mutual Insurance, is ranked in Dallas-Irving-Plano, located in Texas, the 10 place of unhealthy markets, according data of housing affordability. Naturally, this results not look positive, especially for the municipalities, that are trying to demonstrate how fundamental is their economics when they promote the places for living for american workers.
The autonomous, low ranking exists, obviously, thanks to the high prices of houses located at the area, and the general incapacity of the market to keep up with the situation (with employment wages). During the situation when housing market is booming, home prices are so elevated, and it’s difficult to continue to keep up with them.
Does it mean that now is the time of problems for the Dallas’ metroplex? According the city of Plano, this situation is not so grave.
Five cities, located at the DFW area, elaborated the top 10 list of the best real property markets (in the WalletHub’s).
City of Plano, located in Texas, is placed at the ninth spot, and the Allen (located in Texas too), is now at the sixth spot. Frisco, Texas, McKinney, Texas and Richardson, Texas too, are located at the first top three places. And now the question is: will San Francisco become better that Dallas?
HousingWire and we, all together, will closely follow the news.