With wildly soaring home prices over the past year, it’s easy to get caught up in tracking relatively short-term increases, and the Dallas area was one of the hottest real estate markets in the nation in 2021.
But a new analysis of historical data ranks the Dallas-Plano-Irving metro area in the top 10 markets in the United States for growth and stability in the past 25 years as well.
The study by SmartAsset from 1997 through 2021 shows Dallas-area home prices shot up 228% since 1997 and the odds of a homes in the market suffering a 5% drop in price within 10 years of being purchased was a minuscule 1%.
The combination of appreciation and market stability ranked Dallas the seventh best housing market in the nation over the 25-year span.
Austin-Round Rock-Georgetown ranked No. 1, with home prices up 368% in the past 25 years and 0% chance of a 5% home value loss in a 10-year period, according to the analysis.
Other Texas cities in the top 10 were Midland, ranked third; Houston-The Woodlands-Sugar Land, ranked sixth; Odessa, ranked eighth; and San Angelo, ranked 10th.
The Lone Star State dominated the analysis, with San Antonio-New Braunfels ranking 11th, Waco weighing in at 12th, Fort-Worth-Arlington-Grapevine reaching 15th, and College Station-Bryan ranking 17th to round out the Texas presence in the top 20.
Home prices in the Fort Worth metro area rose 213% in the 25-year period and the odds of a home value loss in a 10-year timeframe was 1%, according to SmartAsset’s eighth annual edition of “Best Housing Markets for Growth and Stability.”
The North Texas markets both improved from their 2021 showing in the study. Last year, Dallas-Plano-Irving ranked 10th and Fort Worth-Arlington-Grapevine was 18th.
At the other end of the spectrum, the Flint, Michigan metro area ranks as the worst housing market for growth and stability. The study found that the chance a home price dropped more than 5% in value within 10 years of purchase is 45% – the second-worst rate for this metric. Over the past 25 years, the average home price in Flint increased less than 83% – the 25th-worst in the study.
No Texas metros were in the 20 worst housing markets.
SmartAsset used data from the Federal Housing Administration.
By Bill Hethcock – Senior Reporter, Dallas Business Journal
