Housing bargains harder to find in DFWHousing bargains harder to find in DFWhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=58842013-10-29T08:58:00Z2013-10-29T00:00:00Z

DALLAS-FORT WORTH - Finding a housing bargain is becoming more difficult in most of the largest cities across the country, according to John Burns Real Estate Consulting.

Thanks to rising home prices, the ratio of median home prices to median household income exceeds historical averages (since 1981) in 20 of the top 21 housing markets in the nation.

In Dallas-Fort Worth, the home price-to-income ratio is 3.1, up from a historical average of 2.7. The U.S. home price-to-income ratio is 3.7, up from a historical 3.1.

The median sales price of existing single-family homes in North Texas rose about 10 percent in the first nine months this year from a year earlier — the highest home price appreciation in at least 20 years.

Jim Gaines, an economist for Texas A&M University’s Real Estate Center, doesn’t think that pace will slow a bit in fourth quarter and next year. Below is how DFW ranked up against Houston and Austin.

Price-to-Income Ratios of Texas MSAs
MSA Current
Dallas-Fort Worth 3.1 2.7
Houston 3.1 2.7
Austin 3.8 3.2

Read more at the Dallas Morning News.

Dallas Morning News
Dallas-Fort Worth-Arlington
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