Thursday, February 10, 2011

Dallas Housing Stability

Median price: $164,000
Foreclosure rate: 1.72%

As you know, Texas cities have been among the nation's most stable housing markets, boasting very affordable prices, continued new development and little price volatility. The economy has helped: The city's unemployment rate is about a point below the national average, as is the state's.

Another key to Dallas's housing market strength is its expanding population. The metro area added nearly 150,000 people between July 2008 and July 2009, more than any other place in the nation. That means development on the many open areas not far from town has continued. Home prices have fallen less than 10% since 2006, and the median price of $164,000 makes homeownership a reasonable expectation for most working people.

No comments:

Post a Comment