North Texas Market Update

Market Update

As we sat and watched while home prices were doubling in many areas throughout the country, comments were varied about the local market appreciating nominally when compared to the country. The comments were not without anguish either. The PMI Group, a California-based insurer ranks cities across the US relative to the decline in home prices and Texas ranked better than anywhere in the country.

The Dallas market per their report has less than a 1% chance of having lower home prices in two years. The Texas economy is still strong gaining almost 252,000 in the past 12 months, with 6,700 jobs in the past month versus the U.S. economy losing 84,000 jobs during the same time period. Homes in our area are taking a little longer to sell, but the homes that are professionally stage, priced realistically and marketed well are still selling. Credit is available with rates being near record low.

If you would like more information and the latest figure on the real estate market feel free to email me at donna@donnabthomas.com.