Jan 24, 2015

State of the Dallas Real Estate Market - January 2015

The 2015 Dallas market has started off with a bang. Despite our low inventory of homes for sale, we've got a lot more activity than is typical for this 'slow' time of year. Higher priced homes are experiencing better sales than we've seen in a long time. That's great news for North Dallas sellers, because this is the area with the biggest concentration of higher priced homes.

Take a look at this graph showing North Texas single family home sales by dollar volume. Hexter-Fair Title charts these monthly figures by year. In December 2014, the dollar volume of home sales shot up to $1.78 billion, which is 22% higher than December 2013. This huge gain was achieved with 12% more transactions.

Our housing market is expected to remain strong in 2015 despite the dramatic decline in oil prices. We all love the cheap gas prices, but the oil business drives a lot of area jobs. Oil industry layoffs or loan defaults to banks could put a damper on the positive momentum of our market. Thankfully, the Dallas economy is diversified and healthy. And so are home sales.
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