|Updated 3/2/2 home in Lakewood Elementary. See more at 6541Patrick.com.|
By Troy Corman, t2 Real Estate
The Dallas Morning News' Steve Brown reported this morning that Dallas - Fort Worth home prices rose 7.5% in 2012, making up losses during the recession. Last year's median price of single family homes in the Dallas - Fort Worth metro, averaged $159,300, quite a jump from the 2009 low of $140,500.
Nationwide, home sales in 2012 were up 10%, led by big gains in cities on the left coast. Low interest rates with very few homes for sale continue to push prices even higher in early 2013. With the bond market beginning to signal higher interest rates on the horizon, look for more buyers to get off the fence if the ultra-low mortgage rates continue to tick upward. This would likely fuel even more demand and higher prices going forward in 2013. As always, time will tell!