Four Texas markets, including Dallas-Fort Worth, have had the most home price appreciation in the country during the last decade. Austin, Denver, D-FW, San Antonio and Houston topped home price gains in the new study by Realtor.com. Austin home prices have soared almost 63 percent since 2006 — the most of any U.S. market. D-FW median home prices are 51.6 percent higher than they were a decade ago, according to Realtor.com, the real estate search portal managed by the National Association of Realtors. Nationwide, prices are just 2 percent higher than they were in 2006. Realtor.com estimates that home prices in 31 of the 50 largest U.S. metro areas are back to pre-recession levels. Home inventory shortages in markets including Austin, D-FW, San Antonio and Houston have fueled the price jumps.
"The healthy economy is creating more jobs and households, but not giving these people enough places to live," Realtor.com chief economist Danielle Hale said in the report. "Rapid price increases will not last forever. "We expect a gradual tapering as buyers are priced out of the market — not a market correction, but an easing of demand and price growth as renting or adding roommates becomes a more affordable alternative." North Texas home prices are now at record levels. While the rate of home price gains in D-FW has slowed in recent months, so far in 2017 median home prices are 9 percent ahead of where they were a year ago. Realtor.com analysts don't see another home price bubble, even in hot home markets.
- Dallas Morning News, November 14, 2017