Rising home prices in DFW brings influx of new listings

Provided By: bizjournal.com

 

Dallas-Fort Worth's rising home prices --reaching double-digit increases year-over-year -- have prompted more homeowners to put their houses on the market.

"With higher home prices and faster selling times in most cities, homeowners who've held onto their properties are coming back into the market and the overall inventory picture is starting to rebalance," said Lanny Baker, president and CEO of California-based housing research firm ZipRealty.

The North Texas area increased its new listings by 18 percent year-over-year in July to 10,176 listings, after the median home prices rose 14 percent in the same time period, according to ZipRealty research. The median home price in Dallas was $192,500.

In the U.S., the number of new home listings rose 14 percent, with a median home price of $282,034.

Dallas-Fort Worth area homes sold at an average 98.7 percent of list price, compared with the national average of 99.1 percent of list price, according to the data.

With the new listings and an increase in inventory, Baker says he expects prices to moderate in coming months, but the housing market shows no signs of stopping.

"Sales price gains are still accelerating in more than half of the cities analyzed in July, and it's hard to find clear signs of slowing home price momentum," he said.

Rockwall Farmers Market

Provided By: Rockwall.com
The Rockwall Farmer's Market is a seasonal fresh produce market operating
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Next time you’re at the Market take a little extra time to visit the Old Town
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Obama takes questions on housing in Zillow chat

Fresh off a speech in Phoenix in which he outlined his vision for the housing market, President Obama took to the web Wednesday to answer questions from Americans wondering what the government can do to help.

 

Taking questions submitted online in an event live-streamed in cooperation with real estate site Zillow (Z), Obama reiterated in broad terms his support for scaling down government-backed housing finance firms Fannie Mae and Freddie Mac, a key theme of his speech in Phoenix on Tuesday.

 

"We're actually confident that the private market can step in, do a good job, and the government can be a backstop so that we still have affordability and 30-year mortgages," he said.

 

Obama said the Consumer Financial Protection Bureau will release new guidelines "as soon as the fall" in an attempt to simplify the mortgage-application process.

Related: Top 10 consumer complaints

 

While he touted home ownership as a key aspect of the "American Dream," Obama also expressed support for an expansion of affordable rental housing, praising moves by institutional investors to buy and rent out residential properties. These investors, he added, can help stabilize home values in neighborhoods that have been blighted by foreclosures.

 

Obama touted immigration reform as another way to strengthen the housing market.

"We know that if we get immigration reform done, suddenly you've got all kinds of families coming out the shadows, paying taxes, paying penalties," he said. "They're also going to be really likely to buy homes, often times in some of the neighborhoods where you had the most foreclosures."

 

Throughout the discussion, Obama emphasized the importance of the housing market to the broader economy.

 

"This is where most Americans have their wealth," he said. "If we get that right, it makes a big difference everywhere else"

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Great Ideas For Your New Home! How to Make a Hallway Sign

Provided By: mycottagecharm.com

Howdy!  Just thought I’d show you how I took the following items…… 3 plant brackets,  3 plaques from Walmart, and 3 cup hooks…………………