Well, I continually get asked the question, "when do you think we will hit bottom in the Dallas housing market?". Lately, I have been saying, "I believe we already did during this 1st quarter". Now, this is just my opinion and we are in Dallas, TX, where home sales have taken a hit, but not nearly as big a hit as most other major metro areas across the U.S. Well, today, CNN is reporting that housing starts across the country were higher than those in January, which is GREAT!! With this news, I really do think that our market in the Dallas area has already seen "bottom". So, for all those who were "waiting for the bottom", I think they missed the boat!!
While one month of increased sales from January is not indicative of a housing rebound, if we can see 3 consecutive months of increases, then analysts say that would be a good sign of some recovery. CNN reported the following additional good news :
"On Monday, the National Association of Realtors said that existing home sales rose 5.1% in February to a seasonally adjusted annual rate of 4.72 million units from a rate of 4.49 million in January. Last week, the Commerce Department reported that initial construction of new homes surged 22% in February to a seasonally adjusted annual rate of 583,000, up from a revised 477,000 in January. It was the first time housing starts increased since June. Meanwhile, a report from the Mortgage Bankers Association showed Wednesday that the number of Americans applying for home loans jumped 30% last week, driven mostly by applications to refinance existing loans."
I don't know about all the other DFW area realtors, but my business has really picked up. I have several buyers looking to buy and my listings are starting to get some great showing activity. I'd be interested in hearing what other DFW area realtors are experiencing in their business.
Let's get this train rolling again!! Have a great day !!
Tony Nuncio, REALTOR® - www.TonyNuncio.com
Keller Williams Realty - Dallas City Center
1811 Greenville Ave. Ste. 100
Dallas, TX 75206
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