It was in the summer of 2015, when the south part of Dallas wined with the prices of the real estate market.
Some of residential districts, located from Oak Cliff and nearly to Ellis County had the largest gains from the house prices, and, obviously, sales in the last year.
With that, the house prices stuttered in the area of northern suburbs, where the drawback of houses on the real estate market cut into the year of 2015 total sales.
The big demand for the affordable housing finally led at the high prices gains in the total area of the districts like Cedar Hill, Southeast Dallas, Ellis and Kaufman counties – information according the North Texas house price and the Real Property Center at A&M University of Texas.
The preowned house sales, in comparison with the past year, rose nearly 12 to 20% in those markets, when the sales rise was less than 4% in the year of 2015, in nearly 50 of the North Texas markets – according the Dallas’ Morning News, that tracks each quarter.
House sales and the general prices in several of those residential districts located at south, now were still be the same that it was during the last housing crash, say us the real property agent.
“This downturn of prices hit the most markets very hard,” said us Jim F., director of Judge Fite Realtors. “These markets need to come back very faster, to can continue catch up with the biggest part of the rest of world markets.”
There are strong demand that comes from the investors that are hunting houses located from Cedar Hill and nearly to Garland and Mesquite, that pushed up the prices in this neighborhoods.
“Nowadays the business of investors continues to going crazy. And some of this investors are paying overly much money for the houses – much more than rents permit,” he also said. “For they the price is the most important thing and it’s frightening.”
The appreciation of house sales price was one of the most important factor in Dallas area during the last year.
One of the biggest price appreciation was in the Oak Cliff area, and Southeast Dallas too (so the median price rises up nearly 24% from the year of 2014), Southern Dallas and The Colony (up 22%) and Euless (up about 19%).
During the last year in this area there was a lot of home sales.
“Initially, the biggest part of this action comes from investors,” said us Ted Wilson with the Dallas-based real estate analyst Strategies. “In my opinion, even now there are hurdles for households in the named real estate markets, but now we see the improving of economy and of housing conditions, that start bring back more buyers.
“All that we see now in the market can be part of this trend”.
The basic inventories were located in Richardson, Bedford and The Colony with much less expenses in comparison with the past years.
Carrollton-Farmer Branch, Plano, Mesquite, Garland, Grapevine, Grand Prairie, Wylie, McKinney and Sachse-Rowlett – results were less than nearly 1.5 month of houses inventory on the market with the real property agents past year.
The six month supply of homes now means normal, or good market.
“Nowadays in these areas there are limited choices for all homebuyers,” said us David B. with housing analyst Metrostudy Inc. “This situation pass also thanks big investor demand.”
“In biggest part of reasonable priced submarkets, more than 1/3 part of the sales, in the year of 2015 were to the investors.”
So, much more than 62,000 single-family houses were sold by the real property agents during the last year in the area of Dallas – very big number of realty purchases.
According the opinion of analysts, in the future could pass decline in the housing activity – probably in the next year – unless more homes come on the real estate market.
“Just now we are starting to see several early numbers, saying that the slowdown in the area of housing now starts,” said us Dr. James G., chief economist in the Center of Real Property, at Texas University. “Dallas, nowadays, is on the edge.”
“First months of this year probably will look strong,” said Gaines. “But just the other months will say us true about the situation.”