25 Apr 08 
Dallas-Fort Worth Home Prices Holding Strong
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Good news for homeowners in the Dallas-Fort Worth area; home prices are predicted not to experience considerable price declines throughout the next couple of years. PMI Group, a mortgage insurance firm, has reported that thirteen of the nation’s top housing markets have a greater than 60 percent chance of experiencing a decline in home prices.
Various cities within Arizona, California, Nevada, and Florida have experienced the highest price increases in the past several years; however, most of these markets have seen significant declines over the past twelve months.
PMI’s David W. Berson—chief economist and strategist—stated, “excess supply is responsible for much of the risk we’re seeing in the market.”
This is a main reason for why North Texas is not expected to see home prices drop any time soon. There is a six-month supply of resale homes in North Texas and seven-month supply of new homes. The rest of the nation is looking at more than a nine-month supply of resale homes and just under a ten-month supply of new homes. The twenty-year industry average has been six-months for resales and five and a half months for new builds.
This information is reported by Steve Brown of The Dallas Morning News. To read the entire article click here.
Tags: dallas, dallas morning news, david benson, fort worth, home prices, Homes for Sale, pmi group, real esstate, steve brown
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Great news indeed for home owners in Dallas. At least, their houses have high market value..
Is it always supply that determines the prices of houses? Are there any economic factors?