After falling to historical lows, factors that the market really depends on, such as new home starts, are finally working on creating a long-term trend back up to pre-recession levels.
Dallas, TX (PRWEB) July 31, 2014
At the close of the second quarter of 2014, the Dallas-Fort Worth housing market looks to be experiencing healthy conditions with trends continuing toward renewed health and progress for the North Texas region following the recession. Prudential Texas Properties reports, citing data from Metrostudy and the Real Estate Center at Texas A&M University, increases in new home starts, new and preowned home sales and home prices have made for beneficial conditions for home buyers and sellers and make for a bright real estate future for the region.
The outlook on the Dallas-Fort Worth housing market has been boosted by gains in new home starts through the second quarter of 2014 to a current value of 6,129. New home sales have also made significant gains since the beginning of the year with a current value of 5,520.
In the preowned sectors of the market, Dallas-Fort Worth is still seeing slow but substantial growth that will do its own part to boost the market. Preowned home sales reached a post-recession record for one month sales with 9,481 sales in June, while home prices have edged up as well to a record $199,900.
“The Dallas-Fort Worth market is roaring,” says DD Flynn, VP of Marketing at Prudential Texas Properties. “After falling to historical lows, factors that the market really depends on, such as new home starts, are finally working on creating a long-term trend back up to pre-recession levels.”
Although the market has yet to hit construction levels that are equal to those of before the recession, the local economy is finally strong enough to support long-term growth in the construction field.
“We’re happy to see these numbers going up,” Flynn continues. “This will promote growth, not just in the near future, but for many years to come.”
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