Today the latest S&P Case-Shiller Index was released and is probably the most reliable gauge of home price increases/declines in the US. It shows a lot of gloom and doom in the national housing picture, which will probably be front page news in tomorrow's local newspapers and on local newscasts.
The Dallas Morning News website has the lead headline saying "S&P: U.S. home prices post record 18% decline". However, we must keep in mind that housing prices are a local phenomenon, and what's shown in the Case-Shiller Index is that the DFW Metroplex has only had a 3% price decline from Oct'07 to Oct'08. That's the best mark in the country. Yet the news release focuses on the record 18% AVERAGE decline in prices throughout the US, which ignores the relative health of our market.
The Dallas Fort Worth real estate market is one of the MOST stable areas in the country. And with low interest rates, NOW is a great time to buy real estate.
Perhaps one of your resolutions in 2009 is to diversify your investment portfolio after the turbulent year many experienced in 2008. THEN DO IT! And use real estate as the means to diversify!
Are you interested in McKinney real estate investments? Collin County real estate investments? Then call me and let's help you make 2009 a great year for your portfolio!
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