Local Market Monitor, a premier real estate forecasting company, has released its latest Home Price Forecast. Dallas-Plano-Irving and Fort Worth-Arlington areas are both in the top 10 housing markets for best expected performance. 

The forecast surveys 300 U.S. housing markets and predicts market behavior over the next 12 months. It identifies markets where home prices will continue to drop as well as stable markets with opportunities for growth. 

According to the forecast, among the largest US markets-identified as those with populations greater than 600,000-the 10 markets with the best expected performance in home price are:

Baton Rouge, LA
Buffalo-Niagara Falls, NY
Dallas-Plano-Irving, TX
Fort Worth-Arlington, TX
Houston-Sugar Land-Baytown, TX
Little Rock-North Little Rock-Conway, AR
McAllen-Edinburg-Mission, TX
Oklahoma City, OK
Rochester, NY
San Antonio, TX
Syracuse, NY
Tulsa, OK
Wichita, KS 

These top housing markets did not experience the housing booms seen in California, Nevada and Florida a few years ago. Home prices in these areas are generally below the US average and reflect where the recession has so far had a relatively mild impact. Steady economic growth and price appreciation have helped these markets remain stable.

It’s fun to be able to sit back and watch trends as they change in Dallas Texas. An observant Realtor in Dallas Fort Worth has a prime vantage point since we are constantly showing new and old homes as we work with home buyers.

For a number of years, new home builders in Dallas and home buyers were supersizing their new homes. Terms like McMansion became the descriptive for that newest trend. Bigger was better and more meant status. Now however the trend is changing with both Dallas home builders and home buyers. The new trend across the Dallas Metroplex is smaller homes with more efficient use of space. Forget the formals that are only used once per year.

It seems the negative headlines have done a good job in scaring sensibility into home buyers. The housing market in Dallas is not bad, in fact it’s very good but you’d never know that by reading the newspaper headlines. Regardless, home buyers decided not to stop buying but instead buy more frugally. Smaller homes cost less to buy and less to maintain. As an added bonus, Dallas will be a little greener.
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When you talk about the housing market, one thing that you have to take into account is the “months of supply”. In other words, the number of homes for sale and the rate at which they sell giving you the number of months of housing inventory. One of the reasons that the Dallas Housing market has faired so well in avoiding declines in prices is due to keeping our home inventory levels low.

Dallas has close to a 6 month supply which is excellent compared to the national average of 11 months. Areas like Florida have inventories as high as 30 months which makes it easy to understand why prices have dropped so low. Dallas real estate has weathered the storm and continues to show its strength.

If you wonder whether now is a good time to buy then answer is a resounding yes. Prices will only get higher if you wait to buy a home. Please feel free to call us at 800-326-9011 so we can help you find your dream home and negotiate the best price on your behalf. You may also email us by clicking here.

Visit Real Estate Center at Texas A&M online for more excellent resources and information about the Texas Real Estate and Housing Market!

According to CNNMoney, more people moved to the Dallas Fort Worth metroplex than to any other metropolitan area in the United States last year. The population here increased by 162,250 between July 1, 2006, and July 1, 2007, according to a new U.S. Census Bureau report. Atlanta, Phoenix and Houston also saw their ranks swell by more than 100,000 people each.

Eight out of the top ten fastest growing metro areas were located in the South, and the South also accounted for more than half of the 50 fastest growing regions.

The Sunbelt is the fastest growing part of the country because in large part thanks to its lower cost of living – from housing and groceries to taxes. The region has been one of the fastest-growing for years now, and in the words of William Frey, a leading demographer, “growth breeds more growth.” As more people move to an area, there is increasing demand for goods and services, which creates more jobs. More jobs means more homebuyers. More homebuyers moving into an already increasing housing market means the potential for a stimulated Dallas real estate economy. Here in Flower Mound we are fortunate that the drops in value that are happening on both coasts are not happening here. That is not to say our market is not slowed slightly but a boost to even a flat market could mean a banner year for real estate and mortgages in the Dallas Fort Worth area!

Craig Pollard is a mortgage professional and owner of Texas Mortgage Team. He specializes in the Dallas Fort Worth area and is a frequent voice on Texas Home Central’s blog. Craig can be reached at 972-317-9900 or emailed by clicking here.

According to statistics from Dallas-based Residential Strategies, the top 10 home builder in volume cut new home construction in the Dallas area by 40% compared to 2006 new home construction numbers. A lot of people are reporting this as a really bad thing and yes, there were a lot of people negatively affected by this reduction. A lot of these new home builders not only cut new home construction but also cut personnel.

Truth be told, home builders got themselves into that position. Apparently, for the sake of growth and competition, they conveniently forgot about measured growth and how flooding the market with new homes will affect mortgages, resale homes and foreclosure rates. Now, I am NOT saying all of the problems in our current economy are the fault of builders. I am merely saying they didn’t help any… or rather, they did help but not in a good way.

Believe it or not, those cuts, however harsh were necessary in leveling out our housing market. By cutting starts, new home inventory has a chance to get back to normal levels allowing for the following GOOD things happen:
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