Standard & Poor’s/Case-Shiller home price index, published Tuesday, reports Dallas home prices fell 4 percent in February. The slowdown in the Dallas real estate market pales in comparison to national figures where home prices averaged a decline more than 12.5 percent compared to last year. 
The index shows that 17 of the 20 major housing markets had record annual price declines in the period ending with February, with Las Vegas showing the largest decline. Charlotte, N.C., was the only city in Case-Shiller’s report with home price gains, though modest ones.
On a higher note, the Dallas-area had the third-lowest annual decline, behind Portland, Ore., down 2 percent, and Seattle, off 2.7 percent. Case-Shiller tracks the prices of typical single-family homes in each of the metropolitan areas and does not include condominiums and townhouses or new construction.
Dallas Fort Worth did see a few modest gains in home prices however. Collin County as a whole saw an increase in both February and March.
Remember, Dallas home price dips remain modest. If the downturn was huge then there would be a reason to fret but don’t! The boom of 2003 – 2005 caused Dallas home buyers and investors to look at real estate as a short term investment. The buy and flip mentality was prevalent and worked for a few years. But times have changed and we need to adjust our thinking, going back to long term expectations. Even with blips and occasional declines, historically home prices have appreciated. If you buy into the theory to buy low and sell high, now is definitely a good time to buy.
For more information on Dallas home prices and Dallas real estate, give me a call at 800-326-9011. If you are interested in finding your dream home and receiving the best price possible, now is the time to act!
Tags: Dallas Housing Market, Dallas Real Estate
This entry was posted on Thursday, May 1st, 2008 at 11:30 pm and is filed under Dallas Fort Worth, Home Buyer, Housing Market, Real Estate, Tips for Buyers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.