Real Estate Report

Dallas single-family home prices trump national average

According to a new report from CoreLogic, single-family home prices are still up across the nation, and Texas continues to buck trends, posting increases above the national average. Home prices in the Dallas-Plano-Irving metropolitan were up 9 percent in August 2014 compared to the same period last year. On a month-over-month basis, home prices increased .08 percent from July 2014.

That 9 percent increase landed the Dallas area at the No. 5 spot nationally. Houston took the No. 1 spot, with an 11.4 percent increase from August 2013 to August 2014. At the state level, home prices rose 8.5 percent from August 2013, enough for a No. 10 ranking.

Across the nation, home prices are up 6.4 percent from the same time period last year, with a month-over-month increase of .03 percent. All states showed a year-over-year home price appreciation in August, and the home price index (HPI) reached new highs in nine states, including Texas.

The U.S. has experienced 30 consecutive months of year-over-year increases; however, the national average is no longer posting double-digit increases.

“The pace of year-over-year appreciation continues to slow down as real estate markets find more balance. Home price appreciation reached a peak of almost 12 percent year-over-year in October 2013 and has since subsided to the current pace of 6 percent,” said Mark Fleming, chief economist at CoreLogic, in a statement.

“Continued moderation of home price appreciation is a welcomed sign of more balanced real estate markets and less pressure on affordability for potential homebuyers in the near future.”

Looking ahead, according to the CoreLogic HPI Forecast, home prices are projected to increase 0.2 percent from August 2014 to September 2014 and by 5.2 percent from August 2014 to August 2015.

To determine the home price index, CoreLogic, a residential property information, analytics and services provider, looks at price, time between sales, property type, loan type and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same single-family homes over time, which provides a more accurate “constant quality” view of pricing trends, as opposed to views of pricing trends based on analysis of all home sales.

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Coworking News

Dallas' Longhorn Ballroom unveils new renovated coworking studio space

Longhorn Ballroom

Dallas' famed Longhorn Ballroom music venue has unveiled a newly renovated multi-use building — located across the courtyard from the Ballroom at 200 Corinth St. — that's open for creative types in the fields of entertainment, restaurant, and the arts.

The Longhorn Ballroom was built in 1950 for country music legend Bob Wills and this Texas Playboys and was originally named Bob Wills’ Ranch House. It was managed for a time by Jack Ruby, then Dewey Groom who renamed it the Longhorn Ballroom and built it into one of the greatest venues of its day, hosting Willie Nelson, Loretta Lynn, Merle Haggard, Charley Pride, Pasty Cline, B.B. King, Ray Charles, Nat King Cole, James Brown, Al Green, Johnny Rodriguez, Freddy Fender and Selena.

This newly renovated building was originally constructed in 1950 as part of the Ranch House, where it served as a motel for touring musicians and according to a release, is rumored to have sheltered Wills' horse "Punkin."

You could office here. Longhorn Ballroom coworking space.Longhorn Ballroom

The two-story 26,000-square-foot building offers co-working spaces for entertainment professionals, attorneys, and managers. There are five 1-2 person offices available, along with a limited number of residential live-work studios for artists. There are also several small restaurant spaces available for "culinary creatives."

The largest available area — a former recording studio — could be transformed into a space for audio, film, or post-production work.

There is also a common area and kitchen, plus plentiful parking. Internet and utilities are included. Rates depend on space rented.

"As an entertainment attorney, there’s no better place for my practice than the Oficina co-work space at the Longhorn," says Decker Sachse, a current tenant. "It’s a great location with easy access and my clients love the vibe."

In the fall, the Longhorn will complete its third and final phase with the opening of a 6,500-capacity outdoor amphitheater along the banks of the original Trinity River. Called The Longhorn Backyard Amphitheater, it will host a series of soft opening shows this fall, starting with Randy Rogers on September 20. A grand opening with a full calendar of events will commence in the spring of 2026, providing the city with a state-of-the-art outdoor venue one mile south of downtown Dallas.

concerts openings