3, 2, 1 … blast off! DFW home prices skyrocket

Dallas-Fort Worth​ – As the region grows, housing prices have escalated with Case-Shiller reporting prices increased 9 percent year-over-year in North Texas, but the cumulative effect is stacking up against buyers seeking affordable homes.

In the past five years, North Texas home prices increased 43.3 percent, which has never happened before in DFW history.

Home builders are focused on lowering price points, but it remains a challenge to develop a single-family, detached home for under $200,000 unless it’s by a mass production builder, said Ted Wilson, principal at Dallas-based Residential Strategies Inc. ​

The median home price in Dallas-Fort Worth sits at $340,000.

With apartment rental rates also climbing, Wilson said he doesn’t expect an oversupply of new homes or that the supply of inventory will increase dramatically in the short term, which points to home prices continuing to climb in North Texas.

Earlier this month, Wilson release​​d the second quarter results of North Texas’ market, which showed builders started 7,601 homes during the quarter. 

During that time, builders sold 7,289 homes.