Falling houseprices

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DFW House Prices: "The days of easy 10 percent price gains in one year are over" 

October 15, 2018

If you have been waiting for until house prices settle in the DFW area to buy, that time is ahead.

The Dallas Morning News reports risk management and valuatin firm Veros Real Estate Solutions reveals that next year's major home price increases will be in Nevada and the Pacific Northwest... not in DFW.

Eric Fox, VP of Statisical and Ecomic Modeling at Veros says, "Our latest VeroForecast indicates that on average, for the top 100 most populated metro areas, we expect 4.5 percent appreciation over the next 12 months."

Fox also notes, "We are forecasting that the overwhelming number of metros across the nation, approximately 97 percent, will appreciate, with just three percent depreciating during this period."

National Association of Realtors Chief Economist Lawrence Yun was here last week and his predictions mirror Veros. Yun predicts nationwide median home prices will rise by approx. 8% over the next 2 years. Yun told real estate agents, "The days of easy 10 percent price gains in one year are over." 

In DFW, median sale prices of houses sold by real estate agents in the first 9 months of this year, are just 5% higher than the same period last year.

So, if you have been waiting to buy a house in the DFW area, that waiting could very well pay off.