DFW Housing Facts #3 New Home Construction

Real Estate Agent with searchMLS.TV

DFW has seen tremendous steady growth from 2001 to 2005 and 2006 was not bad either. Housing Facts of Life are that real estates runs in cycles. So what does the current slow down mean for DFW.

In an earlier house fact article we reported that D-FW was the fastest growing metroplex in the enitire country in 2007. Dallas-Fort Worth was producing about 50,000 new homes per year. Because of the credit crunch and tightening of credit standards the buyer pool has decreased. The foreclosures also take away some of the demand for new housing.

NOW IS THE BEST TIME TO BUY. More homes than buyers. Supply vs. Demand. PRICES ARE GREAT.

Wait until later this year or even until 2009 and builders will adjust their projections to Wall Street, builders will build fewer homes. They will adjust volume.

When the pendulum swings in the other direction, more demand and fewer builders with fewer inventory homes - prices go up. Dallas is red hot in job growth. The market will shift quickly!

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