Steve

Dallas-area home prices were up by a record amount in the latest Standard & Poor’s/Case-Shiller Home Price Index.

Local home prices rose by 7.1 percent in February from year ago levels, according to the just-released report.

Dallas-area home prices have now been higher for a full year in the closely-watched housing market measure.

Nationwide, prices were up by 9.3 percent in Case-Shiller’s 20-city survey. Of course, the Dallas area never experienced the sharp price declines some U.S. cities saw in the recent recession.

“Home prices continue to show solid increases across all 20 cities,” S&P’s David M. Blitzer, said in the report. Blitzer noted that home price increases across the country were highest in May 2006.

The largest year-over-year home price increases in Case-Shiller’s new report were in Phoenix, at 23 percent, and San Francisco, at 18.9 percent.

Dallas-area prices in the Case-Shiller index are just slightly below where they were before the recession. Nationwide, home prices are still down more than 30 percent from where they were in mid-2006.

Regardless of the price range, now is a great time to offer a home for sale in North Texas given the region’s increasing home values and the markedly decreased competition for sellers. If you’re considering listing your home, call an Ebby Associate to learn more about the real estate market in your neighborhood and to find out what your home is worth in today’s market. To find the right agent for your residential real estate needs, visit the Web site voted one of the industry’s best by the Web Marketing Association, ebby.com.

Steve

Nationwide Open House Weekend is this Saturday and Sunday, April 20-21. The best place to see all the open houses in the North Texas MLS (you’re also able to search and sort by your desired criteria) is Ebby.com. See them now at http://bit.ly/Ivz5U1

Ever wondered if open houses are still relevant to the home-buying process? The below facts and figures from the National Association of REALTORS®’ 2012 Profile of Home Buyers and Sellers indicate that open houses are very important indeed:

*  In 2012, 45% of all home buyers used an open house as a source in their home-search process.

*  Repeat buyers are more likely to find their home from an open house than first-time buyers and repeat buyers use open houses more frequently.

*  Buyers with incomes between $55,000 and $75,000 are most likely to find their home through an open house compared to those in other income brackets.

*  Buyers 65 years and older are more likely to find their home through an open house than other age groups. As age increases, the likelihood of using open houses as a search tool increases — 45% of buyers aged 45 to 64 used open houses compared to 28% of buyers aged 18 to 24.

*  Buyers in the South are most likely to find a home through an open house compared to those in other regions.

Whatever your taste or style, you’re sure to find many great open houses all across North Texas this weekend. Visit http://bit.ly/Ivz5U1 now to get started. Happy house hunting!

Steve

The brand-new REAL Trends 500 list of the top 500 residential real estate firms in the United States ranks Ebby Halliday Real Estate Inc. 12th in the nation based on closed sales volume. Ebby ranked No. 15 nationwide for closed transaction sides.

The REAL Trends 500 is an annual research report that identifies the country’s largest and most successful residential firms. The report represents the most trusted standard of measuring the performance of the nation’s leading realty service firms.

The Ebby Halliday Companies, which include Ebby Halliday, REALTORS® and Dave Perry-Miller & Associates, recently topped the Dallas Business Journal’s list of the Largest North Texas Residential Real Estate Brokerages.

The list ranked North Texas residential real estate firms based on closed transactions in 2012. The Ebby Halliday Companies closed 15,916 transactions, approximately 45 percent more transactions than its nearest competitor, and an almost 20 percent increase over 2011.

The Ebby Halliday Companies’ approximately $4.8 billion in sales volume in 2012 surpassed its nearest competitor by about 58 percent, and was 24 percent higher than the firm’s 2011 sales volume, according to the Dallas Business Journal.

“Congratulations to all of the dedicated, hard-working Associates and staff members who made these phenomenal sales numbers possible,” says Mary Frances Burleson, president and CEO of the Ebby Halliday Companies. “While 2012 was truly an exceptional year, we are already looking forward to what the record books will say about the Ebby Halliday Companies in 2013.”

Locally owned Ebby Halliday Realtors was founded in 1945 on three principles: service to the client, service to the industry and service to the community. In business now for more than 68 years, and having grown from a one-woman office to the largest real estate company in Texas, the company has consistently maintained a focus on service to the community. In addition to its support of many North Texas charitable organizations, the Ebby Halliday Companies belong to 27 local chambers of commerce, promoting our local economy.

“At the Ebby Halliday Companies, we’re proud of our undisputed role as the dominant real estate firm in North Texas,” Burleson says. “Our clients benefit from many advantages that are a direct result of our status as the market-share leader.”

To learn more about the Ebby Halliday Companies or buying or selling a home in North Texas and beyond, visit ebby.com or daveperrymiller.com.

Steve

Home prices in the Dallas metropolitan area rose 7 percent year-over-year in January, according to the just-released Standard & Poor’s/Case-Schiller Home Price Indices.

“Home prices are still trending upward,” says Ted Wilson, principal of Dallas-based Residential Strategies, of the data. “I’m sure it will go on for the next year or so, as long as the rates stay low.”

Low interest rates — about 3.2 percent on a 30-year mortgage — gives home buyers 30 percent more buying power, which creates room in the market for home prices to rise, Wilson says. Expect home prices to continue to rise as long as interest rates remain low, Wilson says.

The trend is being seen throughout the nation, with an increase in home prices year-over-year of 7.3 percent in a 10-city composite and 8.1 percent in a 20-city composite, according to the Standard & Poor’s/Case-Schiller Home Price Indices report.

Rising home prices are also reflected in sales data at the Ebby Halliday Companies, where average home prices in March 2013 have increased 15 percent over March 2012.

Considering that housing inventory is at its lowest level in years, interest rates are at historic lows and home values are rising, the time to sell a home in North Texas couldn’t be better.

To learn more about the rapidly strengthening North Texas housing market or for questions involving the current value of your home, contact an Ebby Associate today. To get started, visit the Web site voted one of the industry’s best by the Web Marketing Association, ebby.com.

Steve

February existing-home sales and prices affirm a healthy recovery is well underway in the housing sector, according to the National Association of Realtors®. Nationwide, sales have been above year-ago levels for 20 consecutive months, while prices show 12 consecutive months of year-over-year price increases.

Total existing-home sales increased 0.8 percent in February, and are 10.2 percent above February 2012.

Lawrence Yun, NAR chief economist, said conditions for continued housing improvement are at play. “Job growth in the improving economy and pent-up demand are causing both home sales and rental leasing to rise. Though home prices are rising much faster than rents, historically low mortgage rates are still making home purchases affordable,” he said.

The national median existing-home price for all housing types was $173,600 in February, up 11.6 percent from February 2012. The last time there were 12 consecutive months of year-over-year price increases was from June 2005 to May 2006.

“A strong rise in home values is contributing to housing wealth recovery, which has risen by $1.4 trillion in the past year and looks to top that increase this year,” Yun said. “The extra consumer spending arising from growth in housing wealth is expected to be $70 billion to $110 billion this year.”

Nationwide, the median time on market for all homes was 74 days in February, which is 24 percent below 97 days in February 2012.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

To learn more about our robust North Texas housing market or for questions involving the current value of your home, contact an Ebby Associate today. To get started, visit the Web site voted one of the industry’s best by the Web Marketing Association, ebby.com.

Steve

Steve Brown of The Dallas Morning News reports that with housing values rising in North Texas, Dallas-area homeowners now enjoy one of the best home-equity positions in the country.

Brown cites a just-released report by CoreLogic Inc. showing that at the end of 2012 the Dallas area had the third-highest share of homeowners with mortgages who had positive equity in their homes. Approximately 90 percent of local homeowners owed less than their houses are now worth.

Only Nassau-Suffolk, N.Y., and the Houston area had higher percentages of homeowner equity, according to the CoreLogic report.

At the other end of the spectrum, Tampa-St. Petersburg, Fla., and the Miami area had the lowest equity with more than 40 percent of homeowners with a loan owing more than their property is worth.

Homeowner equity has been growing in the past year as housing markets around the country have turned the corner. During the fourth quarter of 2012, CoreLogic estimates that 200,000 U.S. homes returned to positive equity.

“The trend toward more homeowners moving back into positive equity territory should continue in 2013,” Anand Nallathambi, president and CEO of CoreLogic, says.

In North Texas, median home sales prices were up 8 percent in 2012 compared with 2011, according to North Texas Real Estate Information Systems, Inc. And, during the first two months of 2013, median home sales prices of pre-owned single-family homes were up another 8 percent.

Dallas-area residential properties have regained much of the value lost during the recession, local figures show. A sharp decline in home foreclosure filings and distressed property sales in North Texas during recent months has contributed to the rise in home prices.

Inventories of houses for sale in the Dallas-Fort Worth area are at the lowest level in more than a decade. Homeowners who choose to list a home for sale now will face much less competition than has been the case in recent years.

To learn more about the housing market in your neighborhood and how you can take advantage of the increasingly strong North Texas market, contact an Ebby Associate today. To find the right agent for all of your residential real estate needs, visit the Web site voted one of the industry’s best by the Web Marketing Association, ebby.com.

Steve

Ebby Halliday, one of Texas’ most outstanding businesswomen and the founder of Dallas-based Ebby Halliday, REALTORS®, the largest independently owned residential real estate company in Texas and 12th in the nation, will celebrate her 102nd birthday on Saturday, March 9. Always committed to following one of her company’s founding principles – service to the community – Ebby is again using her birthday as a way to benefit others.

This morning, sales associates and staff members of the Ebby Halliday Companies, which include Ebby Halliday, REALTORS®, Dave Perry-Miller & Associates, Home Team Mortgage Company, Home Team Insurance and Texas Premier Title, gathered at the legendary Southfork Ranch for a pancake breakfast. The approximately $6,000 donated at the celebratory event will benefit the 600 students at Ebby’s namesake school, Ebby Halliday Elementary School.

View more videos at: http://nbcdfw.com.

Ebby founded Ebby Halliday, REALTORS® in 1945, and has since seen it grow to 30 offices, two real estate brands and three ancillary companies, and more than 1,500 associates covering over 12,000 square miles. Even at 102 years old, Ebby remains interested in her business, its sales associates and the community that has been her passion for 67 years.

“I have learned many things over the years, but none is more important than the significance of gratitude,” says Ebby. “And I am so grateful for the many wonderful clients and community leaders that I have enjoyed knowing during my 102 years.”

Happy birthday Ebby! You make all of us at The Ebby Halliday Companies so very proud.

Steve

The following was sent to all members of the Ebby Halliday Companies by President & CEO Mary Frances Burleson. It was such fantastic news, we thought we would share it with you also:

The National Association of Realtors recently reported its Pending Home Sales Index, a forward-looking indicator based on contract signings (pending sales), was 9.5% above January 2012.

The North Texas Real Estate Information Systems (NTREIS) MLS sales records for January showed an increase of 13% in pending single family residential sales over 2012.

And once again, sales associates at the Ebby Halliday Companies stayed far ahead of the trend locally with January 2013 pending sales that were over 30% greater than in January 2012. And, February pending sales are on track to increase more than 30% over February 2012.

With increases like these, it’s clear that sales associates at the Ebby Halliday Companies are the trend-setters and market-leaders in the Dallas-Fort Worth and North Texas residential real estate market.

Congratulations to this great team!!

Mary Frances

Steve

Pending home sales rose in January, and have been above year-ago levels for the past 21 months, according to a report released today by the National Association of Realtors®. There were healthy monthly gains in all regions but the West, which is constrained by limited inventory but was slightly improved.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 4.5 percent to 105.9 in January from a downwardly revised 101.3 in December and is 9.5 percent above January 2012 when it was 96.7. The data reflect contracts but not closings. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The January index is the highest reading since April 2010 when it hit 110.9, just before the deadline for the home buyer tax credit. Aside from spikes induced by the tax credits, the last time there was a higher reading was in February 2007 when it reached 107.9.

Lawrence Yun, NAR chief economist, said inventory is the key to this year’s housing market. “Favorable affordability conditions and job growth have unleashed a pent-up demand. Most areas are drawing down housing inventory, which has shifted the supply/demand balance to sellers in much of the country. It’s also why we’re experiencing the strongest price growth in more than seven years,” he said.

Yun expects approximately 5 million existing-home sales this year and price growth could exceed a 7 percent gain projected for 2013 if inventory supplies remain low.

The National Association of Realtors^®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

To learn more about how you can take advantage of the increasingly strong North Texas housing market, contact an Ebby Associate today. To get started, visit the Web site voted one of the industry’s best by the Web Marketing Association, ebby.com.

Steve

Steve Brown of The Dallas Morning News reports that Dallas-area home prices rose by 6.5 percent in the latest Standard & Poors/Case-Shiller Home Price Index.

The price gain in December from a year earlier was the largest local increase in the survey in 12 years. And, the increase marked the 10th month in a row of higher Dallas-area home prices in the monthly report.

Nationwide, prices were up 7.3 percent in the Case-Shiller survey.

“Home prices ended 2012 with solid gains,” S&P’s David M. Blitzer said in the report. “Dallas, Denver, and Minneapolis recorded their largest annual increases since 2001.

Only one U.S. market in Case-Shiller’s report – the New York area – was still showing a slight decline of 0.5 percent in home prices in December from a year earlier.

The largest increase was Phoenix’s 23 percent year over year gain.

DallasNews.com subscribers may click here to see the full article from Steve Brown.

To learn more about the housing market in your neighborhood and how you can take advantage of the robust North Texas market, contact an Ebby Associate today. To find the right agent for all of your residential real estate needs, visit the Web site voted one of the industry’s best by the Web Marketing Association, ebby.com.