Forecast: DFW housing prices trek upForecast: DFW housing prices trek uphttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=44492014-04-10T11:56:00Z2014-04-10T00:00:00Z

DALLAS-FORT WORTH - In 2013, median residential sales prices in DFW were up by about 12 percent.

“The long-term average rate of increase is only about 4.5 percent,” said Dr. James Gaines, economist with the Real Estate Center at Texas A&M University. “2014 is going to be another year of double digit price increases.”

Gaines said the tight housing supply in DFW insures that sales prices will continue to spike.

“Are we going to go into a price bubble? I don’t think we are right now,” Gaines said. “But in the long run these increases are not sustainable — you don’t want them to be.”

“We are building almost as many houses as we can build — we have almost hit our physical limit,” Gaines said. “The only thing holding back home sales volume right now is inventory.”

In 2013, DFW had the second highest volume of home sales ever, Gaines said.

Dallas Morning News
Dallas-Fort Worth-Arlington
http://bizbeatblog.dallasnews.com/2014/04/forecast-dallas-fort-worth-home-prices-are-heading-higher.html/Read more at {Source}

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