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With Dallas-area home prices in many neighborhoods up by 10 percent or more so far this year, 2013 is shaping up to be one of the best years for the local housing market in decades. Local pre-owned home sales in the first half of this year are running more than 20 percent higher than in the same period of 2012. They’ve set a North Texas sales record for a six-month period. Some Dallas-area residential districts are experiencing the largest home price gains this area has seen since the 1980s. Housing analysts and real estate agents predict that North Texas home sales and prices will continue to rise during the rest of this year, even with the recent increases in mortgage costs. “The increase of sales we are seeing is a pure function of economics,” said Ted Jones, chief economist for Stewart Title Co. “This is not false hopes. It’s all about the jobs.” With the Dallas-Fort Worth area among the top five employment growth centers in the country, Jones said, it’s only natural that demand for housing is so strong. [Read this article]
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