I did an interview with Mitch Carr on KRLD News on May 31st. With all the news of rapidly decreasing property values across the nation, he wanted to know what the Dallas Fort Worth market was doing.
“Texas likes to buck the trends” I told him. Property values in North Texas are up 3.5 percent and Collin County home values are up 5.4 percent.
Mitch asked the logical follow-up question, “Why?”
There are many reasons. First, Dallas has a stable economy. Second, Dallas never saw the run-up in prices so there was no bubble to burst. We do have our share of distressed properties, but the market is absorbing them at a reasonable rate.
I looked deeper into the local statistics and noted that listings are down 17 percent and home sales are down 14 percent over 2010. That’s also a good sign for housing prices. Fewer listings helps keep inventory down and prices stable.
Know the value of your DFW home.
Search the MLS for North Texas Homes for Sale.
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