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Dallas-Ft Worth homes prices creep higher this month

North Texas home prices have inched higher in January 2010.

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Median pre-owned home prices were up 1 percent last month from a year earlier.

But the number of pre-owned homes sold in the area fell by 6 percent, the second consecutive decline in the monthly sales figures.

A real estate agent is your best resource to sort through all the pricing confusion. .

About 33,500 homes were listed for sale in North Texas last month.

I can help you find the perfect home at the best price don't hesitate any longer. The market is changing quickly!

D-FW AREA HOME RESALES UPDATE

Comparisons of January pre-owned home sales and prices in North Texas with year-earlier statistics:
Single-family home resales	3,330	-6 percent
Median price	$130,000	1 percent
Average days on market	84	-2 percent
Pending sales	4,369	No change
Listed for sale	33,569	-10 percent
Condo-townhome resales	172	2 percent
Median price	$127,520	6 percent
Average days on market	96	-16 percent
Pending sales	235	3 percent
Listed for sale	3,556	-6 percent
SOURCES: Texas A&M University Real Estate Center, North Texas Real Estate Information System Inc.

2009 was a long, strange trip in the Dallas-area home market | Dallas Real Estate News | News for Dallas, Texas | Dallas Morning News

2009 was a long, strange trip in the Dallas-area home market | Dallas Real Estate News |
News for Dallas, Texas | Dallas Morning News



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D-FW new home construction surges in 4th quarter

Home construction rose in the Dallas-Fort Worth area for the first time in more than three years during the fourth quarter.
The almost 10 percent jump in home starts came as the inventory of new houses on the market fell to low levels, housing analyst Residential Strategies Inc. said Thursday.
The increase in the final three months of 2009 “marks the first uptick in the annual start rate since second quarter 2006,” Residential Strategies’ Ted Wilson said. “This is a significant event signaling that the housing market is in the bottoming process.”
Builders started 3,615 homes in the fourth quarter, up from 3,200 in the same period of 2008.
The biggest increase in starts was for homes priced between $150,000 and $200,000, Wilson said.
“Some of the larger builders are flexing their muscles and trying to pick up market share,” he said. “The strategy appears to be to have some spec homes ready for move-in this spring.”
For all of 2009, new home starts in the D-FW area totaled 13,499 units – the lowest construction volume since 1991.
While home construction is picking up, the number of new homes sold in the fourth quarter continued to lag.
Builders closed 4,710 home sales – down about 15 percent from fourth quarter 2008. Still, sales in the just completed quarter were the strongest in all of 2009.
“The fourth quarter typically is a slower period for new home sales,” Wilson said.
The increase in homebuilding activity in the D-FW area comes after more than two years of annual declines.
“Home starts were generally up fourth quarter nationally, but that the level is still way below where it was several years ago,” said Dr. James Gaines, an economist with the Real Estate Center at Texas A&M University.
Builders in North Texas have fewer homes left to peddle than their counterparts in other parts of the country. There is almost an 8-month supply nationwide.
At the end of December there were less than 2,700 new vacant homes on the market in the D-FW area.
“Overall the supply of housing inventory is in excellent shape,” Wilson said. “Total new home inventory is at a 6.5-month supply.”
A six to 6.5-month supply of new homes is considered market equilibrium, he said.
Wilson said the new home market won’t have a real turnaround until the underlying economy rebounds.
“Consumers need jobs if they are going to feel confident about making new home purchase decisions,” he said.

7:33 AM CST on Friday, January 8, 2010By STEVE BROWN / The Dallas Morning Newsstevebrown@dallasnews.com

Don't forget to file your Home Stead Exemption...

A Quick Reminder for Homeowners:

File your home stead exemption form after January 1, 2010 (you only have to do this once)
Click on your county below for the form:
http://www.collincad.org/download_forms.html
http://www.dallascad.org/Forms/
http://www.rockwallcad.com/forms.htm
http://www.dentoncad.com/index.php?option=com_docman&task=cat_view&gid=134&Itemid=37

As always, call or email me with any questions. Happy New Year.

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NAR has been a champion of homeownership rights and opportunities for more than a century. Helping consumers become more informed, responsible homeowners is important to the stability and value of the housing market – and your overall enjoyment of your home.

From time to time, NAR may ask you to partner on issues or legislation that may impact you as a homeowner. It’s up to you whether to participate in these causes.


Will my information be shared? I can't stand junk mail, spam, and dinnertime phone calls.
We're with you. We’ll NEVER share or sell your email address or other personal information you may provide us with anyone without your explicit consent.

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Here's a quick guide to using the HouseLogic site. You're free to explore all you want. When you're ready to go, just dig in. The more you use the site, the more you'll get accomplished, so remember to come back often.


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