Dallas the costliest home market in TexasInteresting report from the Houston Business Journal:
Dallas is the most expensive housing market in Texas, ranking higher than Austin, San Antonio and Houston, according to a new national study by Coldwell Banker Real Estate Corp.
The residential real estate company's Home Price Comparison Index compared the cost in 310 U.S. markets for a 2,200-square-foot, four-bedroom home with two and a half bathrooms, a family room and a two-car garage.
In Dallas, the average home cost was $261,325. It was followed by San Antonio at $219,075 and Austin at $199,381.
The most affordable market in the country and the state was Killeen, where a similar home costs $131,000. Arlington was the second most affordable market in Texas at $139,510, followed by Fort Worth at $148,610 and Houston at $151,600.
Plano was the seventh most expensive market in Texas, with homes costing about $183,750.
The national average home price was $401,767, a 13 percent jump from last year. In more than half the markets studied, the average home price was less than $300,000.
Since Houston and Dallas are similar cities in many ways, I've heard comparisons that say any housing price differences are likely due to zoning in Dallas and no-zoning in Houston. Zoning restricts new supply, especially in desirable areas, driving up prices. I do think that plays a part, but hard to say how much. $110K seems a bit much to blame on zoning. But no matter how you look at it, they're all a bargain compared to the $401K national average for that size house. Texas in general - and Houston in particular - are amazingly affordable, especially for families.