There's no doubt you've heard about the housing bubble that started pushing the DFW Metroplex away from the affordable monicker that made the area so attractive for anyone looking to buy real estate. Believe it or not, there was once a time when investors could build a solid portfolio, corporations could relocate here and provide a good standard of living for their employees, and regular home buyers on the hunt for a home to call their own could find the home they want without the agony of competing against multiple offers on every. single. house.
However, as the saying goes, all good things must come to an end. Reports began to surface about the local market that were less than positive. Prices were rising faster than normal (52% from their low during the latest bust). The prices of homes dipped below their affordable index. Dallas-Ft. Worth was listed as unhealthy because the market was too hot. There came a point where the numbers showed it was cheaper to rent than buy a home in DFW. Based on what we were reading, it was nothing short of housing armageddon.
Of course we began to wonder. How high will it go? When will it burst? What will the fallout look like?
Fortunately, it looks like the deflating of the bubble is less apocalyptic and more like a slight correction to the trend line, bringing market back to a direction that's more sustainable. No bursting, no popping, just a little softening of the tension.
This sigh of relief comes from the latest Case-Shiller Home Price Index report from October 31, 2017. While prices were 7.1% higher in August than they were for the same period the year prior, it's actually the lowest increase in prices since 2013. That's four full years of year-over-year increases greater than 7.1%. In even better news, according to this Dallas Morning News article, growth in prices will continue, but at a less drastic rate.