The most recent news on the Dallas real estate market has to be considered extremely encouraging. According to the Brookings Institution analysis, Dallas – Fort Worth has one of the strongest economic and housing markets in the U. S.
In an economic analysis of the second quarter 2009, the Dallas – Fort Worth area ranked fourth using a comparison of 100 U. S. cities. (Austin, Texas ranked first, El Paso, Texas ranked sixth and Houston, Texas ranked ninth.)
Dallas real estate fared even better. Dallas real estate ranked third among markets based on best home price performance the analysis found.
The Brookings Institution’s quarterly report ranks the U. S.’s largest metro areas based on employment, unemployment, economic output, home prices and home foreclosure rates. The study also showed signs that several metro areas are beginning to recover from the recession and that the rate of economic decline slowed in many other metro areas.
Economic output was up 0.1% in the second quarter of 2009 compared to the first quarter of 2009. The total employment numbers did drop 1.9% from the peak of the economy in mid-2008, however that compared to a 4.1% declined nationwide the study stated.
However, the best news did concern the local Dallas real estate market. Adjusting for inflation, Dallas real estate prices increased 3.8% in the past year. Let me repeat, Dallas real estate prices increase 3.8% in the past year. That was the third best performance in the U. S.
The signs are changing hear in the Dallas real estate market. There won’t be a better time to purchase Dallas real estate than right now. Take advantage of the $8,000.00 first time home buyer incentive, low interest rates and probably as low of prices as we’ll see. The timing is right to buy Dallas real estate now. Give me a call and let’s discuss your Dallas real estate needs, 972-402-4124.
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