Dallas Home Prices Rope Up

dallas home pricesSales of existing single-family homes in North Texas slid 11 percent in January, or so everyone is reporting. But median Dallas home prices rose 8 percent over value a year ago, this data from the Texas A&M Real Estate Center.

Almost every expert in town is pointing the finger of blame for the fall in home sales to the first time home buyer'scredit. How can you compare a windstorm to a tornado?

And no, Super Bowl XLV didn't have much to do with it. Or maybe it did? The median home price in North Texas was $140,010 in January, up 8 percent from January 2010. The increase is likely because more higher-priced homes were sold, say experts. In Tarrant County, six submarkets posted sales increases: far north Fort Worth/Park Glen, northeast Arlington, far southwest Arlington, the TCU area in Fort Worth, River Oaks/Azle and Bedford.

Real estate reporter & blogger Candy Evans is an award-winning, Dallas-based real estate reporter, blogger, and consultant. She's the gal who brought House Porn to the Bible Belt! Read more at SecondShelters.com. Send story ideas and tips to CandyEvans@secondshelters.com.

The sales news is dismal -- in January 2011, only 3,073 homes were sold in the 29-county region,
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down from 3,330 in January 2010, when you had all those first-time home buyers prowling the streets.

This being the eighth straight month that home sales were down from a year earlier, I wonder, again, why are the banks not loaning out money? Perhaps in lieu of another first-time homebuyer's program, we need a "first-time home borrower program"? I hear story after story of wealthy people with great credit who cannot get loans simply because they do not have a W-2. We bailed out the banks, but here we are, two plus years into this recession, still no loosening of the loan strings.

The median home price in north Texas was up 8 percet in January to $140,010 from January 2010. This uptick in Dallas home values may have come from a flurry of year end, high net worth home sales that had to happen by December 31. Example: The married Jonas Brother, Kevin or "K2," sold his $2 million Vaquero mansion.

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