Don't Expect the Dallas-Fort Worth Home Market Boom to Fizzle in 2018
Don’t expect Dallas-Fort Worth’s housing boom to fizzle in 2018. All the growth factors that ignited it are still in place. Between the area’s robust job market and its economic climate for attracting corporate relocations, D-FW is projected to keep pace with recent years and add nearly 80,000 new residents to the metro population in 2018, which will keep a steady demand for housing.
But if the first 11 months of 2017 are any indication of the 2018 market, skyrocketing home prices may be coming back down to earth.
As we recently reported, the median sales price of homes in Dallas-Fort Worth has surged 40 percent in the last four years.
In 2015 and 2016 alone, pre-owned home prices respectively jumped 9 percent and 10 percent according to the Dallas Morning News. But at the end of November, average prices for 2017 had only increased 5 percent, and the short supply of inventory was up 10 percent.
Though analysts see no evidence of a price bubble or housing crash, they do project moderate price and sales increases in 2018 compared to the off-the-chart numbers in recent years.