Dec 26, 2010
The PMI Group's market risk index (which measures the expected price changes over the next 2 years) still shows the Dallas Ft. Worth area as the lowest risk in the country for price declines. That's one list where we love to be on the bottom.
The bogey man of real estate - Uncertainty - seems to be disappearing. Uncertainty prevents people from making financial decisions, especially big decisions like buying a home. As people feel more comfortable about our economic future, they'll start buying homes.
DFW leads the country in job growth and people continue to move to here every day. They all need a place to live. Fortunately, Dallas builders (or maybe just their lenders) have shown significant restraint in keeping new housing starts low. That has helped keep our prices from taking a nose dive like they have around the rest of the country. Comparatively, our market has taken a small and short dip.
The Barnett Shale has been the biggest boost to our economy since DFW airport and the death of this economic bonus has been greatly exaggerated. Jobs creation continues in North Texas.
January is always the slowest closing month of the year, but June will come again! And sales will be stronger than they are now - just like every year. I'm refueling my engine for a strong 2011!