Dallas Real Estate is Still a Good Investment

Dallas-Fort Worth still most stable area for home prices

Although North Texas home prices fell 2.7 percent between August 2007 and August 2008, it is still the nation’s most stable area, according to figures released Tuesday by the S&P/Case-Shiller home price indices.

Prices in the 20 metro areas surveyed nationwide fell an average of 16.6 percent.
"The real difference between D-FW and the rest of the country are the levels of inventory," said Ted Wilson, partner at Residential Strategies, a Dallas-based housing tracking service. Existing and new inventories are not as out of tandem with demand as in other areas of the country, he said.

The steepest declines from a year ago were seen in Phoenix (minus 30.7 percent) and Las Vegas (minus 30.6 percent).

"The downturn in re- sidential real estate prices continued, with very few bright spots in the data," David Blitzer, chair- man of the index commit- tee at Standard & Poor’s, said in a statement. He noted that it’s the fifth month in a row for negative annual returns.
Talk of recession, turbulence on Wall Street and the uncertainty of the election season are all contributing to buyers’ wait-and-see attitude, Wilson said.
"We’re hopeful that next spring, we’ll see a renewed interest in the market," he said.
Housing prices North Texas fared better in home prices than all other metro areas between August 2007 and August 2008. But all 20 metro areas surveyed in the S&P/Case Shiller home price indices posted a decline in prices.