Today’s Dallas Morning News (August 11, 2009) has just reported that the Dallas-Fort Worth home sales for the month of July declined only 7% from one year ago and that “this is another sign that the housing market dive may be easing”. However, the best piece of news from the article was that Dallas-Fort Worth home prices were actually up over the same period last year. The median Dallas-Fort Worth home sales price was up 3% at $155,000.00.
The consensus was that the majority of Realtors® and builders are more optimistic about the real estate market conditions and feel the federal tax credit for first time home buyers has helped boost Dallas-Fort Worth home sales. The July Dallas-Fort Worth homes sales number stood at 7,127 homes sold, the highest total in 11 months. And the Dallas-Fort Worth pending home sales were also up by 5%.
For year to date, end of July 2009, Dallas-Fort Worth home sales are down 19%, however median prices are only down 1%. The inventory of homes for sale in Dallas-Fort Worth stood at just over 37,000 single family homes, which is about a 6.6 month supply of homes, down 17% from last year and down 26% from the peak in mid-2007. Dallas-Fort Worth homes are averaging just under 80 days to sell, about 1% longer than one year ago.
The improvement in the Dallas-Fort Worth real estate market appears to be in line with the national indicators. This may be the best possible time to jump into the home purchasing market if you have been sitting on the fence. Inventory is working itself down and prices in some areas are on the rise. Don’t miss this opportunity! Call me today at 972-402-4142.
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