According Dallas Morning News article, sales in DFW metroplex have the smallest decrease in pre-owned home sales since last fall. Is it temporary slowdown, or we reached the bottom? Knowing that until 2011 48% of the home owners (nationwide) will be underwater, is hard to believe that we will not have another downturn.
Pre-owned home sales in North Texas declined by only 7 percent in July, the smallest year-over-year decrease since last fall and another sign that the housing market dive may be easing.
Prices were also up last month after a long run of declines from the previous year.
The median price of houses sold through the Realtors' Multiple Listing Service was $155,000 – 3 percent higher than in July 2008, North Texas Real Estate Information Systems and Texas A&M University's Real Estate Center said Monday.
"This is very good news for an industry that has been hurting for some time," said D'Ann Petersen, a business economist for the Federal Reserve Bank of Dallas. "I still think it is too early to say whether we've hit bottom for sure, but there are definitely signs that things are becoming less worse.
No comments:
Post a Comment