Across the nation, the naysayers have changed their mind and proclaim the housing slump has ended. From homes in Scottsdale to Condos in New York, the market is on the rise and real estate is once again heating up. The following five signs all point to a stronger housing market in Dallas during 2013.
1. Homes in Dallas had big increase in price during 2012 and looks to continue into 2013.
2. The number of Dallas foreclosures has plummeted. Bank owned homes are becoming very rare. Banks know that there is a line up of buyers who want to purchase one of the last remaining foreclosures. As a result the banks are pricing their homes at current market rates and are no longer priced lower than a typical resale.
3. The number of homes for sale in Dallas is much lower this year than last. The inventory is being bought up. Quality homes are seeing multiple offers again and the sellers are starting to get an advantage.
4. Dallas mortgage rates are at historic lows. People are jumping at the chance to buy a home with a mortgage in the low 3% range.
5. Dallas homes are significantly more affordable than they were 4 years ago.
If you have considered buying a home in Dallas, now is the time to act while they are still affordable and mortgage rates are still low. There has never been a better time to buy in history (other than maybe 6 months ago)
Special thanks to my friend Carmen Brodeur, with Trillium Properties, for this guest post. Carmen specializes in vacation homes and golf properties. Visit www.TopScottsdaleHomes.com if you are looking for a vacation home or golf property in Scottsdale.