Apr 16, 2009

Dallas market condition update

Several factors are keeping the DFW real estate market strong.

  • Employment statistics are still good and much better than the rest of the country.
  • Corporate and individual relocations into DFW are continuing. Forbes recently ranked Dallas #5 on Top 10 list of cities to which people are moving.
  • The oil and gas industry, especially in the Barnett Shale, is another bright spot with a 25-30 year projected life span of each gas well.
  • There is a 6.2 month inventory of existing homes listed for sale in North Texas. Six months is considered a balanced market.
  • Builders have shown significant restraint in keeping housing starts low. DFW has only a 3.1 month inventory of new homes (finished and vacant) for sale.

Real estate is a local business and market conditions vary from neighborhood to neighborhood -and even block by block within a neighborhood. Some areas are slow, others are brisk and some are flat.

And in today's economy, flat is the new up!

[where: 75230]

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