First American Core Logic latest analysis of Dallas real estate prices predicts home prices will turn positive by the summer of 2010. The firm’s economists are predicting by August 2010, the Dallas home prices will have appreciated 0.21%. Now that sure doesn’t sound like a lot, however, Core Logic’s numbers state that Dallas home prices have declined only 0.12% in the past twelve months ending August 2009. Thus Core Logic’s assessment of the Dallas-Fort Worth housing market is much more positive than most other measures.
However, the finance information firms assessment that Dallas real estate prices will turn positive is pretty much in line with other economist’s forecasts. The only city showing a housing price appreciation was Houston, while other areas such as New York City, Los Angeles, Chicago and Miami showed double digit price declines.
The Core Logic’s chief economist, Mark Fleming, has said he expects home prices to be at or near the bottom of the market in anticipation a a sustained recovery nationwide. Core Logic estimates that the overall U. S. home prices are down 10% versus August of last year with the hardest hit areas being in Nevada (down over 24%0 and Arizona (down over 19%). However, in Texas their numbers are showing home prices are down only 0.26%, with Houston and Dallas being the two best performing cities in the country.
With Dallas real estate prices basically staying flat for the past year, and predictions of at least small appreciation in the coming year, there may not be a more opportune time to buy a Dallas home. With the $8000 tax credit expiration fast approaching, now is the time to purchase Dallas real estate.
Call or e-mail me today at 972-402-4124 or gerald@d-fwhomes.com
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