Over time, the worth of a home will fluctuate up and down.
Over a long enough period of time, house values almost always appreciate.
But, of course, in real estate there are no "sure things".
When your home appreciates you have more resources to borrow against, and you'll generate a higher profit when you sell.
There are many different reasons why property values in Dallas go up and down. So, how will you know what you're buying this year will appreciate over time?
It's imperative that you select an agent in Dallas who is familiar with the factors that influence local prices.
Many assume that the economy is the most influential factor affecting real estate appreciation.
there are quite a few factors on a national level that change your home's value: unemployment, interest rates, inflation, and more.
But the most influential issues that decide your home's value are specific to the local Dallas economy and housing market.
Access to services - Most people want homes in the regions with the most convenient amenities, like our jobs and schools.
So those areas typically appreciate, or keep their value consistently, year to year.
Real estate sales trends - Are homes on the market 30, 60, or 90 days or even longer? Are sellers having to discount much or offer concessions Some information can be obtained from public records, but a good agent with a login to the local MLS will usually be able to provide a more complete picture.
The appreciation history - Is the neighborhood thought of as desirable because of its location or affordability? Have house prices gone up or down over the last 5 to 10 years?
Economic factors - Have companies moved into or away from an area? Are local businesses hiring? Is there a nice combination of jobs in an area, or does it rely on just one industry?
Each of these things plays a part.