Jan 30, 2008

Where Dallas Housing Is Heading

The Wall Street Journal recently reported on where housing is heading based primarily on job-growth prospects and housing inventories (leading indicators) in 28 major markets. Each market was rated either weak, moderate or strong.

Dallas was one of only 2 markets rated 'strong'.

The Journal reports a 0% change in housing inventory from the previous year with a 5.9 month supply (we Realtors like to see a 6 month or less supply). Overall prices in the metroplex down .1% (yes that's 1/10 of a percent - which I say we should just call even). The employment outlook is strong and the overdue loan payments are at 4.5%. If you're looking for a reason to celebrate Dallas real estate - here it is!

1 comment:

Jeff Duffey said...

The buyers that are buying now are going to look back and laugh (behind their back of course) at their friends who chose to "wait it out". "You're interest rate is 6.75%? Mine is 5.5%!" Take that! Pretty soon after all the good deals are gone we are going to see a spike in prices and the buyers that waited will be competing and paying a premium. So good for the buyers who are choosing to be educated about our market and not giving in to newspaper articles!