Dallas Home Prices Going Up & You Are Not Selling: Here's Why


There's no doubt that the Dallas-area housing market has been heating up. Home prices rocketed ahead by a record of 23.7% in the latest national measure. But you're not selling your property yet, and it can't be because of a bad location or low quality!

You might be asking yourself why your Dallas home hasn't gotten any offers yet. According to experts, it could be because the COVID-19 pandemic has caused a huge price spike that is now starting to stabilize. It could also mean that buyers are taking their time before making an offer. Keep reading to know more about what's happening in the Dallas real estate market right now.


What's Making Prices Go Up?

While some might think that with the COVID-19 pandemic, people will shy away from making offers for fear of being exposed to the virus, it seems to have positively impacted homebuyers' attitudes toward purchasing homes in Dallas. This is because potential buyers want to move from urban apartments to suburban homes.

This demand spike has caused home values to increase. In the last five years, house prices in North Texas have increased by more than 45%. In July 2021, the year-over-year price increase in Dallas was one of the most significant in the country, outpacing the 19.7% national rise seen in the most recent S&P CoreLogic Case-Shiller Home Price Index.

person writing on a white board


Homebuying Patterns Changing Due To The Pandemic

The market has been rising steadily, and you're not selling; that's the big question. Experts think that it's because of the COVID-19 pandemic and how it has affected people's lives.

As reported by local experts, homebuying patterns are changing because of the pandemic. With more people wanting to move out of big apartments in Dallas into nice homes, home values are also rising, making it harder for homeowners like you to sell their properties quickly. And the principal issue is affordability.

Incomes haven't grown as quickly as home prices, causing everything to fall out of balance. While this might be frustrating, many will tell you that waiting is a good thing since prices continue to go up, and they predict that this upward trend will continue. So, you might want to hold on for a few more months before putting your Dallas house up for sale and see what happens!


The Solution For Selling Your House Fast For Cash In Dallas, TX.

Some businesses help homeowners who are looking for cash offers for houses in Dallas, TX. If you need to sell your Dallas house fast and avoid the hassle of finding a buyer and waiting for them to make an offer, you can consider them.

These companies are different from real state agents. They evaluate your property as-is, with no repairs or renovations needed, and make fair offers with no fees or commissions attached so that homeowners like you don't spend anything when selling their property.

Besides that, they usually close in as little as 7 days, and they also cover traditional closing costs, including but not limited to escrow fees, title insurance, document preparation, recording fees, and more.