The Dallas metro area ranked third in the nation for annual home price increases, according to the latest tabulations from S&P CoreLogic which collects and analyzes real estate data each month.
Dallas experienced a 28.2% increase in home prices June 2021- June 2022.
Only Tampa and Miami saw house prices growing faster than Dallas.
While price increases have “decelerated” month over month, the researchers point that deceleration and decline are two entirely different things, and prices are still rising at a robust clip in Dallas as well as throughout the nation.
“The market’s strength continues to be broadly based, as all 20 cities [in the study] recorded double-digit price increases for the 12 months ended in June. In 19 out of 20 cases, however, June’s reading was less than May’s, showing the impact of deceleration at the regional level. Tampa (up 35.0%) was the fastest growing city for the fourth consecutive month, with Miami (up 33.0%) and Dallas (up 28.2%) holding on to silver and bronze positions,” says Craig J. Lazzara, managing director at S&P.
The researchers say they expect home prices to continue to decelerate.
The typical home value in Preston Hollow as of July is about $528,687 in 75220, up 26.6% over the past year, according to Zillow. In the 75225 ZIP the median home price is $1,786,379, which also is up about 26 and a half percent over last year at this time. Those numbers are seasonally adjusted and only include the middle price tier of homes.