Dallas home prices hit record high in latest survey

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Home prices in Dallas rose a record 25% in the latest S&P CoreLogic Case-Shiller Home Price Index. Home prices across the country were 19.5% higher in September compared to September 2020, but home prices in the Dallas area posted larger gains. While there has been little slowdown in the house price rate, many analysts are predicting that house price appreciation may start to fade in 2022.

Although demand for housing continues, building permits fell for the third consecutive month.

Area home builders filed 14 percent fewer new home permits in October, compared to October 2020, according to a new report from the Texas Real Estate Research Center at Texas A&M University.

Analysts attribute the lower number of permits to higher costs for land, materials and labor.

An Austin real estate investor bought JCPenney’s sprawling former headquarters in Plano’s Legacy Business Park.

Capital Commercial Investments plans to resume the renovation of the iconic property. The previous owners were in the midst of a billion dollar redevelopment of the 1.8 million square foot property when it was taken over by a unit of Beal Bank.

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