It seems every day there is another story about a company moving to Texas. As more and more people move south, the housing market in Texas continues to rise at unprecedented rates. Now, a new study has revealed how fast the home values in DFW continue to rise and it should make sellers very happy.
According to the study done by Zillow, people currently looking for a home in DFW should expect to pay a premium as the annual appreciation of home values in the area saw an 8% increase in February 2021. Not only have homes at all tiers seen an increase, but home values in the most affordable tier have seen the largest increase in value. According to Dallas Culture Map, the typical home value in the lowest tier is currently $194,484, with middle tier homes at $278,259 and the top tier at $445,949.
"While home values in the most affordable segment are growing the fastest in Dallas and Houston, the mid- and higher-valued homes are quickly catching up due to strong demand," said Zillow economist Arpita Chakravorty. Along with DFW; San Antonio, Houston and Austin's home values saw an increase as well. With home values on the rise, Texas proves once again to be the best place to live.
