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LOCAL ECONOMIC SNAPSHOT | RESIDENTIAL REAL ESTATE
D-FW housingmarket starts slow recovery
By STEVE BROWNReal Estate Editor
KYLE ALCOTTStaff Artist
After more than four years of declines, the Dallas-Fort Worth housingmarket is bumping along the bottom. Prices have started to stabilize inmany neighborhoods, and the number of pre-owned home sales has beenrising in recent months. But economists and market analysts agree thecomeback wont be quick.
Dallas vs. U.S. home prices
Homebuyer affordability is
absolutely sky high.
Mortgage rates are
dirt cheap. Thats
going to help
stimulate home
sales in the coming
year.
I am expecting 2012 to be the
first full year of
recovery, with sales
increasing year-
over-year. The
recovery began
back in July of
2011.
In 2011 more than half of the
Dallas-area residential
districts saw
higher sales. And
prices appear
to have
stabilized in
many areas.
The bottom line
Frank Nothaft, chief economist,
Freddie Mac
David Brown, Metrostudy Inc. Steve Brown, real estate editor,
The Dallas Morning News
Dallas-area home prices have fallen about 10 percent from the peak, while the nation, on average, is down by about a third.
NOTE: Comparison of Dallas-area home prices and composite of 20 major U.S. cities over time; does not include new houses but
values of actual properties over time.
100
125
150
175
200
225
111009080706050403020100
D-FW new home constructionNumber of new homes started each year:
North Texas new home inventoryThe supply of new homes in the D-FW area is down
by almost three fourths since 2006. Number of vacant
new homes in the Dallas-Fort Worth area at the end
of each year:
North Texas pre-owned home sales
Pre-owned home sales have fallen by more than a third
since 2006. Number of single-family homes sold by real
estate agents for each year:
North Texas home listings
Homes listed for sale in North Texas are down about 35
percent since the record high in 2007. Number of single-
family homes listed for sale in real estate agents multiple
listing service at the end of each year:
0
10
20
30
40
50
111009080706050403020100
0
10
20
30
40
50
60
70
1110090807060504030201000
10
20
30
40
50
60
111009080706050403020100
0
10
20
111009080706050403020100
United States
Dec.: 136.71
Dallas
Dec.: 113.22
Dallas United States
13,927
3,245
42,290
27,058
SOURCES: The Real Estate Center at Texas A&M University; North Texas Real Estate Information Systems