North Texas home prices continue their climb, now hitting a new milestone of $400,000 as the area's median price. That means half the inventory of home in the Dallas-Fort Worth area cost more than that.
The higher median price is great news for homeowners who want to sell, but it makes it tough on new home buyers and on owners who see their property taxes skyrocketing.
The new average is fourteen percent higher than just a year ago. The reasons are what any economist will tell you; a lot of demand and not much supply which is always a recipe for price hikes.
No one can predict when the scales will tip back the other way.
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