Good news DFW! The Dallas/Fort Worth area pre-owned homes showed a price increase this past November, up 1.4 percent from a year previous, according to the lastest statistics released by the Standard & Poor's/Case-Schiller Home Price Index. This is the first positive increase in DFW in the past 2 years. The Dallas area also placed 1st out of 20 cities tracked monthly according to the index. Based on the numbers, our area has been on a steady increase since the market bottomed out in March 2009.
It's not time to celebrate yet however. There is still much speculation about mortgage rates increasing if the Fed stops buying mortgages and mortgage backed securities this April. 30-year fixed rates have already risen by one-quarter of a percent this past month to around 5.2%, according to HSH Associates. This could be the beginning of a steady rise in rates. With this in mind, NOW is the time to lock in your mortgage on the purchase of your next home or a re-finance of your current home.
Visit BW Home Team to find all the homes available on the market today, whether it is homes in Frisco, homes in McKinney, or homes in Flower Mound, pre-owned or new construction. Quit searching and start finding with us!
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