We’re headed into the slow season for buying and selling homes, but those who are willing to get into the market now may find conditions to be surprisingly great.
Dallas, TX (PRWEB) September 29, 2014
After months of steady increases in Dallas home values, price points are moderating as the fall season begins to make headway. Prudential Texas Properties reports, citing data from Altos Research, that the hot Dallas real estate market is finally starting to see trends cooling off in the middle of September.
Altos, a California-based real estate analytics company, reported the median home value spent the better part of the year increasing, but has since remained idle around $390,000, which is right around where it was marked September 12. These flatlined trends are a definite reflection of the increasing level of inventory that has been taking place in most areas of North Texas.
Dallas homes for sale have been growing in volume since March, and there looks to be no end in sight. With 2,352 available Dallas homes as of September 12, this hot market is finally getting the fuel it needs to continue attracting home buyers from throughout the North Texas region. In fact, inventory is right around where it was a year ago, and if the trends keep going in the direction they seem to be heading October may be a great month for Dallas real estate.
“Low inventory has been plaguing the Dallas housing market, as well as many others, and the influx of more homes is going to give the market the much-needed shot in the arm it needs to really thrive in throughout the next 12 months,” says VP of Marketing at Prudential Texas Properties DD Flynn. “We’re headed into the slow season for buying and selling homes, but those who are willing to get into the market now may find conditions to be surprisingly great.”
Another thing for Dallas home buyers to consider is the fact that competition and demand has eased significantly since July. Altos uses a unique figure called the Market Action Index to measure whether demand is trending high in favor of sellers or down in favor of buyers based on a scale that uses 30 as the neutral point.
After peaking above 41, the index has come down to 35.78 as of September 12. While the figure is still very much in seller’s territory, its much more balanced than it was for much of the spring and summer seasons. Year-over-year, homes are coming off the market much more swiftly, so despite the fact that fall and winter are typically slow times of the year for the housing market, home buyers and sellers may notice that the Dallas market will continue its reign as one of the hottest in the nation.
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