(EMAILWIRE.COM, January 02, 2013 ) San Francisco, CA -- The year is coming to a close, and 2012 turned out to be a quality year for the Dallas area when it came to the housing market. In fact, the area had its strongest year in a decade.
New and pre-owned sales rose sharply, and the total number of houses for sale are at the lowest point since 2002.
North Texas neighborhoods make up a bulk of the housing value losses suffered during the recession, and so the numbers are more a relief than anything.
Analysts of the housing market expect the 2013 spring to be strong as well, giving hope to those who are still struggling to cope with the post-recession housing climate.
As long as the local economy holds up, I think the housing market will continue to improve, said DAnn Petersen, an economist with the Federal Reserve Bank of Dallas. The very low level of new and existing home inventories should give rise to prices as well.
Low interest rates and relatively affordable prices are a boost to those deciding now is a good time to buy.
The North Texas labor market has also made a rebound, which has helped boost confidence. Realtor sales are up 8% from the first 11 months of 2001, according to recent numbers, for pre-owned homes. The total pre-owned sales have run 17% higher as a whole.
I just upped my forecast for 2012; I think its going to end a little bit better than I originally thought, said James Gaines, an economist with the Real Estate Center at Texas A&M University. I think 2013 for Texas is looking pretty good.
We see the economy getting better, but not by leaps and bounds.
It is not all roses however, as Gaines admitted there is still some concern that the political hubbub of the Washington over budget deficits and possible tax cuts could scare away potential consumers.
The psychology of what is going on in this market is as important as anything, he said. If people think things are getting better, they act accordingly.
Still, homebuilder confidence has risen greatly in the last 12 months. The industry had lost of its residential builders, but companies that are still in business are saying they are having a hard time just keeping up with the demand.
Weve sold more million-dollar houses in the last four months than in the last four years and have sold more for cash, said builder Rudy Rivas, a principal with M. Christopher Custom Homes. Our average sales price is up by more than $100,000 this year.
About Greater Austin Homes:
Greater Austin Homes (http://www.greateraustinhomes.com/owner-financed-homes/) provides visitors with information on how they can find their perfect home in the Austin area quickly and easily. Learn about the company, or search the MLS today, and find a new house now. Visit the website and find owner financed homes and owner finance homes for sale.
Customer Service
4157669098
news@postpressrelease.com
Source: EmailWire.Com![]()
New and pre-owned sales rose sharply, and the total number of houses for sale are at the lowest point since 2002.
North Texas neighborhoods make up a bulk of the housing value losses suffered during the recession, and so the numbers are more a relief than anything.
Analysts of the housing market expect the 2013 spring to be strong as well, giving hope to those who are still struggling to cope with the post-recession housing climate.
As long as the local economy holds up, I think the housing market will continue to improve, said DAnn Petersen, an economist with the Federal Reserve Bank of Dallas. The very low level of new and existing home inventories should give rise to prices as well.
Low interest rates and relatively affordable prices are a boost to those deciding now is a good time to buy.
The North Texas labor market has also made a rebound, which has helped boost confidence. Realtor sales are up 8% from the first 11 months of 2001, according to recent numbers, for pre-owned homes. The total pre-owned sales have run 17% higher as a whole.
I just upped my forecast for 2012; I think its going to end a little bit better than I originally thought, said James Gaines, an economist with the Real Estate Center at Texas A&M University. I think 2013 for Texas is looking pretty good.
We see the economy getting better, but not by leaps and bounds.
It is not all roses however, as Gaines admitted there is still some concern that the political hubbub of the Washington over budget deficits and possible tax cuts could scare away potential consumers.
The psychology of what is going on in this market is as important as anything, he said. If people think things are getting better, they act accordingly.
Still, homebuilder confidence has risen greatly in the last 12 months. The industry had lost of its residential builders, but companies that are still in business are saying they are having a hard time just keeping up with the demand.
Weve sold more million-dollar houses in the last four months than in the last four years and have sold more for cash, said builder Rudy Rivas, a principal with M. Christopher Custom Homes. Our average sales price is up by more than $100,000 this year.
About Greater Austin Homes:
Greater Austin Homes (http://www.greateraustinhomes.com/owner-financed-homes/) provides visitors with information on how they can find their perfect home in the Austin area quickly and easily. Learn about the company, or search the MLS today, and find a new house now. Visit the website and find owner financed homes and owner finance homes for sale.
Customer Service
4157669098
news@postpressrelease.com
Source: EmailWire.Com