I love Dallas, y’all.
We’ve got a lot of things going for us. Take our beautiful Arts District, our growing Southern sector, and our rebounding downtown, for example. And according to Standard & Poors/Case-Schiller Home Price Indices, Dallas is maintaining its ground when it comes to residential real estate.
In the S&P/C-S report released today, nationwide, home prices are dipping by 3.5 percent over the past year ending in February. In Dallas, though, prices were flat.
Normally, when people say that something was flat, it’s more like, “Meh, things are flat. Whatever.” But y’all, I’m sure Atlanta would LOVE for their home prices to be flat. If you bought a house there in the past year, it is worth 17 percent less today than a year ago. SEVENTEEN PERCENT LESS! Crazy.
And while S&P says Dallas’ market is flat, well, Hexter-Fair Title Company is a bit more optimistic. In a presentation to Allie Beth Allman agents last week, numbers culled from NTREIS reports show that total residential sales for 2012 are already surpassing 2011 sales through February. Some agents are even saying that sales are actually up 5 percent if you follow MLS numbers.
Really, though, it’s evidence of what many agents have been telling us for weeks: It’s a seller’s market, and there’s a lot of new buyers looking for quality homes. And boy, do we have the inventory!
So far, 2012 is off to a good start, and as long as the world doesn’t end, it looks to be a great year for Dallas Dirt! Do you agree?
— Daily Local Real Estate Dish By Dallas Real Estate Insider — Candy Evans at CandysDirt.com