Home prices continue to rise in North Texas. If you want to buy a home, you should buy now as prices continue to rise. Mortgage Rates continue to rise as well. Home Prices, along with mortgage rates, push affordability to an all time high in the Dallas and Fort Worth home market. As a local 5 Star rated mortgage professional, I can tell you that waiting a year could really cost you. Let’s talk today about buying your next home.
If you are waiting because you want to save up 20% to avoid mortgage insurance, you are costing yourself money. With a conventional mortgage, you can eliminate mortgage insurance fairly quickly in a rising market. When home prices are increasing at 5.1% annually, you are gaining $15,300 of equity in one years time. You will pay less than $1770 in mortgage insurance expense on a $300,000 loan if you have a 720 or higher credit score. Do the math! Call me at (214) 945-1066 to discuss your options or apply on line for a free pre-qualification.
North Texas Real Estate Information System (NTREIS) reports median single-family home price up 0.8% in Apr-2018 over Mar-2018, sales climb to 7,545.
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April 2018 Quick Facts:
- The median price of existing single-family homes increased to $247,000 up 0.8% vs Mar-18.
- Existing single-family home sales increased 2.6% from Mar-18 for a Apr-18 total of 7,545 sold units.
- Condos decreased in price to $220,000 down -2.2% vs Mar-18.
- Existing condo sales increased 0.6% in Apr-18 over Mar-18 for a total of 498 sold units.
Single Family = Single-Family
Condo = Townhouse/Condo
Reports generated from Clarus MarketMetrics®
Contact your real estate professional for additional local market trends in your neighborhood. Reports were generated from Clarus MarketMetrics®. Clarus MarketMetrics® is available as a member benefit to those members who belong to NTREIS MLS. Visit your mls site for registration information.
NTREIS is a real estate information and technology solutions provider serving the real estate community in a coverage area exceeding 48,000 square miles in North Texas, including the Dallas-Fort Worth Metropolitan Area. NTREIS provides information management services to more than 22,000 MLS subscribers of its 15 Shareholder REALTOR® Associations, including more than 5,000 real estate offices. More information is available at www.ntreis.net.