I spoke with a realtor on the west coast today and he was talking about how "bad" business was in his city and that he was considering getting a corporate job, if things don't "turn around" for him soon.
As a realtor in Dallas, TX, I consider myself lucky that we are not feeling the housing "recession" that many other large metropolitan areas in the country seem to be feeling. Even so, I am still constantly being asked about the "doom and gloom" headlines that are splashed across every newspaper, television screen and magazine publication regarding the current state of the housing market. According to some of the articles I have read or broadcasts I have heard, the current housing "recession" is one of the worst on record and we will have a difficult time recovering from it. While I am sure this is the case in many areas of the country, we are not seeing that to be the case for DFW area real estate.
Dallas/Ft. Worth area real estate has always been different from the rest of the country, from what I have witnessed personally and from what I have heard from other longtime realtors who have been in this business for many, many years. So, I continue to tell potential clients, friends and family that "the real estate market is a local market," and, in the Dallas/Ft. Worth area, we are not seeing the "doom and gloom" real estate market that is being described in the media. Yes, we are seeing some neighborhoods with declining sales and some price declines, but we also have some neighborhoods that are experiencing increasing sales volume and increasing prices, as compared to the same time last year. We are also seeing some significant declines in months of inventory in these same thriving neighborhoods. Sure, there are areas in the city that are not fairing as well as others, but overall, I think Dallas and Ft. Worth real estate is doing very well compared to the other large metropolitan areas of the country.
What an exciting business!!! I think this is a bump in the road for all of us and a test of sorts. If we can make it through this time in real estate history, we should be able to make it in any type of market. What do you think?
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