Dallas, Texas (WiredPRNews.com) — Although the nationwide real estate market has been in a steady and much-publicized slump recently with the sluggish economy dragging home sales down, it appears that the Dallas real estate market is holding steady and even showing signs of improvement.
The Dallas Morning News reported that although North Texas property sales dropped 12% last month, the “overall prices managed to eke out a 1 percent gain from a year ago.” This should come as a sign of potential for buyers looking to purchase real estate in Dallas or surrounding cities. The average sale price of a home during the month of May was $154,000 — the highest since the summer of 2007.
According to statistics by the North Texas Real Estate Information System and Texas A&M University’s Real Estate Center, more than 7,700 pre-owned single family homes were sold in North Texas last month. The good news comes from the most recent local housing data reports that the inventory for homes for sale have declined.
DallasNews.com reports, “At the end of May, there were 44,366 pre-owned homes on the market – 10 percent less than a year ago. May’s decline in inventories follows several months of smaller decreases from last year.” With a reported 7-month supply of property yet to be sold in North Texas, now is the optimal time to take advantage of low prices and vast selection.
This mortgage and real estate report has brought to you by Joan Severson, the leading Re/Max DFW real estate agent serving Dallas, Frisco, Allen, McKinney and Plano, Texas.
For questions about your delinquent mortgage, short sales, foreclosures or for more information about purchasing your next home, call 972-588-8588 or visit http://www.joansellsdallas.com