Foreclosed homes in Dallas will be on the rise through the end of 2021 with a gradual decrease predicted for 2022. The Home Value Index for Dallas is currently $282,195 in a seller's market, meaning that housing prices will continue to increase, making it more challenging traditionally without breaking the bank. Competition with real estate investors, out of towners, and people willing to pay cash for the offer often put the average buyer out of the running. These factors all come together to make traditional home-buying unrealistic for current buyers' budgets. Because of this, many buyers have started to consider purchasing foreclosed homes in Dallas.
If you're in the market for a home, purchasing five years, home values in Dallas, Texas, have increased by over 57%, with an average increase of 21.5% year over year. On top of that, the number of active single-family homes listed for sale has decreased by 50.7% year over year. Not only is the market competitive, but there are fewer and fewer homes to choose from.
If you have been discouraged by the current housing marketing, you are not alone. That's why many people are considering purchasing a foreclosed home as a viable path to homeownership. In Dallas, TX, there are some fantastic foreclosed home options available. If you have been finding it difficult to find a home in your price range in Dallas while saving for a down payment, a foreclosed home could be just the option for you. Foreclosed homes offer the opportunity to get into a home at a reduced price (sometimes substantially reduced) in exchange for potentially needing to make repairs and otherwise fix up the home. Repairs may not always be necessary but it should be anticipated. Below are a variety of homes either in some type of foreclosure or pre-foreclosure status.
Discover and understand more about what you can expect for Dallas, TX in terms of weather, education levels, income levels and more to get a better feel for the city.
|Lack of Highschool Education||78%|
|Highschool Diploma or GED||22%|
The foreclosure rate in Dallas is about 0.1%. It's slowly moving downward and is lower than other big cities in Texas which have a foreclosure rate of around 3.7%.
Yes, Dallas is also a county. It's the second most populated county in the US. The city of Dallas is included in the Dallas-Fort Worth Arlington MSA which is composed of 12 counties: Collin, Dallas, Delta, Denton, Ellis, Hunt, Johnson, Kaufman, Parker, Rockwell, Tarrant, and Wise.
Yes. Dallas has a population of 1.4 million and Austin has a population of about 960,000.
The top five safe and affordable neighborhoods in Dallas, TX are listed as: the Bishop Arts District, Deep Ellum, Lake Highlands, Oak Lawn, and Preston Hollow.