Bargains, low mortgage rates boost Dallas-area home sales in 2010

Home sales and prices were up in the first half of the year in most Dallas-area residential districts.

The big question is: Will it last?

Some real estate agents who pound the streets representing buyers and sellers say business is still pretty good – even without the federal tax credits that fueled so much homebuying earlier this year.

"I'm written a ton of contracts in the past 2 ½ weeks," said Scott Schueler of Keller Williams Realty. "The bulk of my business right now is first-time buyers."

The tax credits, which ran out at the end of April, were especially appealing to those first-time buyers. But finance rates at near-record lows are keeping them interested.

"The low interest rates are appealing to everybody," said Lydia Player of Virginia Cook Realtors.

Player said worries about the economy are being trumped by bargains in many neighborhoods.

"People are still feeling a little uncertain about the economy," she said. "But there are so many good deals out there, they can't pass them up.

"The prices of the properties right now are as good as we are going to see," Player said. "The general feeling is we have hit rock bottom."

Widespread rise

Prices are starting to rebound. Median home sales prices were up in the first half of 2010 from a year ago in all but a dozen Dallas-area residential districts tracked by The Dallas Morning News. Overall prices in the area were up an average 7 percent from a year earlier.

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