The Dallas Morning News has researched and reported that new home sales ended the last quarter of 2009 at a 10% rise. There is a nonsense statement, though: "...the first increase in annual start rate since second quarter 2006...." Here they are comparing apples and oranges.
Nevertheless, the report is interesting.
DALLAS (Dallas Morning News) - Home starts in Dallas-Fort Worth jumped almost 10 percent in fourth quarter 2009, the first increase in the annual start rate since second quarter 2006, according to Residential Strategies.
Builders started 3,615 homes in the last three months of 2009, compared with 3,200 starts in the same period in 2008. Homes priced between $150,000 and $200,000 saw the biggest increase.
However, DFW new home starts during 2009 fell to their lowest point since 1991 - 13,499 units.
Fourth-quarter new home sales were the strongest in 2009, but they fell 15 percent from fourth quarter 2008 to 4,710.
"Home starts were generally up fourth quarter nationally, but that level is still way below where it was several years ago," said Dr. James Gaines, research economist with the Real Estate Center at Texas A&M University.
While there is almost an eight-month supply of new homes nationally, DFW has a 6.5-month supply. A six to 6.5-month supply is considered market equilibrium.
BILL CHERRY, REALTORS
DALLAS - HIGHLAND PARK
Since 1964
214 503-8563
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