The Dallas homes prices and Dallas real estate outlook seems to be pretty much following the national trend numbers. The Dallas homes prices were down 2.2% in June from one year ago, but rose 2.7% from May to June, according to the Case-Shiller Index, the most pessimistic of real estate indices. However, the Federal Housing Finance Agency said that Dallas homes prices were up slightly in the second quarter, up 1.13%. During the same time, Fort Worth home prices were up 1.63%.
In July, median Dallas homes resale prices rose about 3% from one year earlier, while the Case-Shiller, February to July numbers show Dallas homes have increased in value by about 6%.
These Dallas homes statistics mirror other national statistics:
Resales of existing homes in the U. S. were up 7.2% in July versus June according to the National Association of Realtors ®.
Consumer confidence was sharply higher according to the Conference Boards index.
The Case-Shiller national composite index was up 2.9% in the second quarter of 2009 versus the first quarter of 2009. 18 of the 20 major markets tracked by Case-Shiller were positive for the second quarter.
Mortgage applications and interest rates continued to be favorable with mortgage applications up 7.5% last week. Interest rates remained in the 5.25% range for 30 year fixed rate loans.
Several prominent analysts are saying the recession ended in August or will do so shortly here in September.
The Mortgage Bankers Association is predicting that the Gross Domestic Product will rise in the third quarter.
Although with unemployment at 9%, the good old days are probably not here yet, but with a predicted slow reviving economy, it appears real estate, Dallas real estate and DFW real estate included, may be leading the way.
There may not be a more opportune time to find your piece of Dallas real estate, or for those of you looking to purchase some Dallas homes. We never know when the bottom of the market was until we’re already on the way up.
Don’t miss out on this opportunity! Contact me today!
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