Dallas Real Estate is Still Going Strong

By dallasrealtor | October 28, 2008

So often we hear about how poor the housing market is right now and how questionable the economy is.  No one wants to sell their home right now for fear that they will take a beating on the selling price.  And, people are afraid to buy homes due to the stringent guidelines of lenders.  Well, guess what?  The housing market is not bad all around.  Some places, like Dallas, Texas had new home sales rise 2.7% last month and existing home sales rose 5.5%.  This is the largest gain in five years.  That’s great news.  Some economists expected that sales would drop, but they didn’t. 

As a matter of fact, on average the Texas housing market has lost a meager 3% on value and less than 1% in foreclosures over the course of a year.  Other parts of the country experienced new home sales up 22.7%.  The average selling price of a home in Dallas is currently $218,400.  Nationally, that’s not a bad average to have. 

The media tends to blow things out of proportion.  Negative or shocking information gets the audience’s attention.  So, naturally they are looking for the negative information.  Don’t always rely on strictly the information provided by the media.  Do your research.  You will find that despite the real estate market’s recession, the Dallas real estate market has maintained itself quite well.

As the Dallas real estate market continues to do well, DFW also gained.  Dallas was actually seems to be doing well despite the broader US market issues. DFW home sale prices gained in the 4th quarter and Dallas was quoted as one of the least likely cities to see drops in home prices.  This continues to be good news for the local real estate market.

USA Today had a recent article regarding how the Dallas real estate market seems to keep its head above water throughout the turmoil of the current market.   Texas had one of the higher gains in home prices last year.

So, don’t believe everything you hear on the news about a falling real estate market and how it’s going to be this way for a few more years.  Real estate in Dallas is holding its own and is still going very strong.  Don’t be afraid to do your research and find out the actual statistics and numbers.  You will be a little more optimistic about the real estate market.

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