Dallas Real Estate Today

By dallasrealtor | October 25, 2008

In today’s economy you can look at real estate in many different ways.  Yes, our stocks are up and down and right now we are not really sure where they are headed.  Dallas real estate, however, is a solid investment.  Yes, even in today’s economy.  The housing prices have come down in recent years, but people will always need to buy houses.  No matter how you look at it, it’s a solid market.  There are first time home buyers, home buyers that have outgrown their existing home due to the addition of children and empty nesters with no children at home any longer.  In all three cases, they need another home.

So, the bottom line is that the housing market is not going anywhere and Dallas real estate investing has never been quite the same.  When you combine the low housing prices with the current low interest rates, real estate begins to make a whole lot of sense.  As an investor you can actually buy property that will generate competitive cash. 

This is not to say that you should remove your money from stock and bonds, but to consider the option of real estate as a steady means of boosting your capital.  If you have not considered this option in the past, you may want to look into purchasing investment property.

“For those who have cash, 2009 will be ripe with opportunities, said Jonathan Miller of PricewaterhouseCoopers.”

Here are some other statistics to consider when looking into real estate investing (source: http://rismedia.com)

Single-family home sales increased 6.2% to a seasonally adjusted annual rate of 4.62 million in September from a pace of 4.35 million in August, and are 3.8% above the 4.45 million-unit level a year ago. The median existing single-family home price was $190,600 in September, which is 8.6% below September 2007.

Existing condominium and co-op sales were unchanged at a seasonally adjusted annual rate of 560,000 units in September, but are 15.7% below the 664,000-unit pace in September 2007. The median existing condo price was $199,400 in September, down 10.2% from a year ago.

Regionally, existing-home sales in the West jumped 16.8% to an annual rate of 1.25 million in September, and are 34.4% higher than September 2007. The median price in the West was $253,600, down 18.5% from a year ago.

In the Midwest, existing-home sales increased 4.4% to an annual pace of 1.19 million in September, but are 2.5% below a year ago. The median price in the Midwest was $152,500, which is 7.9% lower than September 2007.

Existing-home sales in the South rose 2.2% in September to a pace of 1.90 million but remain 7.8% below September 2007. The median price in the South was $167,200, down 4.1% from a year ago.

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