A recent article from the Home Buying Institute is reporting that housing prices across Texas have been steadily rising over the past year and are expected to continue to appreciate in 2013. Dallas in particular was one of the largest gainers with an increase in value of nearly 9% compared to same time period in 2011. The cause for this climb is cited as rising demand and a positive economic forecast across the state. Of course, Texas was one of the states that kept the majority of its real estate value given that the property speculation did not get out of control as it did in other parts of the nation.
Now, given that prices did not fall as far, a job forecast that is improving and a continuation of the very attractive mortgage interest rates, Dallas real estate is projected to rally quite nicely in the new year. Local and state government did a great job providing infrastructure and favorable economic conditions to companies, which is attracting even more employers to the area. As sources from Freddie Mac report, rates are “near their all-time record lows helping to keep home buyer affordability high and aiding the ongoing housing recovery.”
And with employment numbers far below the national averages, the growth and attractiveness to prospective workers and families is expected to bloom, spurring even greater demand for homes. Every major city in the Lone Star State added jobs in 2012. Compared to October 2012, national joblessness was at 7.9%. By comparison, Dallas was 6.2%. This means there are more people able to purchase property, increasing demand and prices while spurring owners to place even more supply on the market. For those of us who live and work in the Dallas area, we are not surprised; this has been and will continue to be a stable and rewarding environment for lifestyle, home ownership, careers and families alike.
We’d love to tell you more about buying a Dallas home. If you have questions about home financing or how to start the home buying process, Request a Home Purchase Review from someone that we know and trust!
Author:Adrienne Sommerfeldt Phone: 214-733-0100 Dated: January 21st 2013 Views: 610 About Adrienne: Adrienne's real estate career began over fourteen years ago and today she is the glue that keeps The...
With over 20 years of experience (yikes, that makes us seem old) in Real Estate Sales and Contract Negotiation, The Key Group is the one-stop shop for all your Real Estate needs. If you are in the market to buy a new home, sell your current house, or invest in Real Estate, please contact us anytime!
The Key Group is a team of six licensed real estate agents working under the brokerage of Keller Williams Realty located in Dallas, TX near the intersection of Frankford and Preston.
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"I had the privilege of working with Adrienne on selling my current home and buying my new home.
Adrienne advised on staging to ensure we showcased the homes size and key features. The photo's she took were absolutely amazing and created lots of interest in the property! Showings were scheduled as soon as the sign went into the yard and we received offers the first day of showing.
Understanding my need to move quickly Adrienne prepared a list of homes to view and lead me well on reviewing not only the cosmetics of the homes I was interested in but also the structural bones of the properties. Her knowledge helped me in purchasing a home that was well taken care of and would hold it's value should I chose to sell in the future.
Adrienne's vast knowledge of all aspects of this process allowed me to start and finish this adventure in less than 30 days.
I am thankful I had her expertise to guide me"