Dallas home prices rise another 19%, besting the nationwide increase

Dallas Morning News Real Estate article by Steve Brown.

Nationwide home prices were 18% higher than one year ago.

Dallas-area home price increases continue to outpace national gains.

Dallas prices were up 19% in September, compared with a nationwide year-over-year 18% increase, according to the latest data from CoreLogic.

Continued high housing demand and the severe home shortage fueled the increases, which especially hit potential first-time buyers hard.

Some buyers are moving to smaller metro areas to find affordable homes.

“Remote work has allowed many employees to buy homes further away from their office,” Dr. Frank Nothaft, chief economist at CoreLogic, said in the new price report. “These homes are often in the suburbs or exurbs, where property prices and population density are lower and single-family detached housing more common.”

Among Texas’ major markets, Austin continues to have the largest home price gains — up by almost 32% from a year ago.

Read the full article HERE.

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