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!
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