I was at a networking meeting today and the presenter talked about the state of the market. Let me just say that I am happy to live in Texas. While the news and media have been talking about the doom and gloom in real estate on the national level they failed to point out that DFW is one of the housing markets that has remained flat. The S & P Case Shiller Index reported that the Dallas area had a 3.3% residential price decline compared to the national average of 18.2%.
One of the contributing factors is the strong DFW economy. In the Oil & Gas Industry the Barnett Shale (onshore natural gas field) created 83k jobs in 2007 and generated 8.2 billion into the local economy. We were also presented with employment changes for 30 states, comparing December 2007 with December 2008, and Texas was the only state that was not in the red. Texas showed an increase of 153,700 new jobs.
Did you know that DFW has a less than 1% chance to have housing prices decline in the next two years according to the PMI U.S. Market Risk Index . What does all this mean? DFW is a good place to set roots with it's strong economy and stable real estate. Take advantage of the low interest rates and call the Barron-Daugherty team at d + b real estate to help you buy or sell your home, 972-838-5394.
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