The Market In Dallas
This is Roxanne DeBerry and I just wanted to comment on the market in the North Dalls area. I have seen a lot of changes since the beginning of 2007 till now. First, due to the mortgage meltdown there has been less buyers in the market in 2008 than in 2007. New home builders have reduced their inventory and prices on pre-owned homes have gone down in some areas. However, there has not been a siginicant change in the prices of homes in most areas. Prices have been stable to somewhat lower than last year. The number of new listings coming on the market is also less than in 2007.
With this said, there is also great news about the economy in the Dallas area. Job growth is one of the highest in the U.S. and is listed at #8 in the whole state of Texas. We added over 68,000 jobs in Texas from July 2007 to July 2008. Interest rates are still at historical lows and as inidicated above, the home prices are very affordable.
I believe that since builder inventory has gone down and there are fewer new listings coming on the market and with job growth accelerating, it is only a matter of time that home prices will start showing increases in the near future. My suggestion to buyers that need a new home is to buy now. To see some of my wonderful listings please go to my website at www.thedeberryteam.com. You can also listen to my latest news about the area as well as national real estate news by going to my newsletter.
If I may be of any help with your real estate needs, please send me an email at roxanne@thedeberryteam.com or call me at roxanne@thedeberryteam.com.
Roxanne DeBerry
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