The mortgage insurance provider, PMI Group, has released a study assessing the risk of substantial, lasting declines in residential real estate values in various markets around the country. The good news for the Dallas-Ft. Worth metroplex is that the area has only a 2.5% risk of housing prices being lower two years from now than they are today. Some short term fluctuations are expected due to increased unemployment, but Texas cities in general are at the bottom of the 300 markets studied. Markets at the top of the list are are looking at an almost 100% chance of declining prices. The news is still good for places like McKinney, Texas and Collin County. With interest rates at all time lows, this is still a good time to buy a home. There are some bargains in existing builder inventory and some bank owned properties. Both of these inventories are being depleted by buyers who are looking for bargains. Even the youngest people in the market today are very unlikely to ever see a confluence of housing values and interest rates that exits today.
This entry hasn't been re-blogged: