VIDEO: Dallas Housing Market Sees Slow Decline in Sales

April 26, 2011  

Video By Meredith Carlton
mcarlton@smu.edu

Many areas have continued to struggle with the state of the economy and the housing market is no exception. According to the National Association of Realtors, previously occupied home sales have decreased since February 2010. On average, sales fell an estimated five percent across the country but Dallas has seen something different.

“We only had like a 2.8 percent decline,” Pixie Young, an Ebby Halliday realtor, said. ” I think a lot of that is because we didn’t have the inflated prices that a lot of the other parts of the countries had.”

Although Dallas did see a minimal decline in sales, some homeowners that were wishing to sell their properties had to make some changes.

“We started at a certain price, and it needed to be adjusted,” Samantha McVey, a Park Cities resident, said. “Then we started getting more people looking at it.”

Not all homeowners had the flexibility to adjust to the market.

“If they bought in the peak pricing period which was 2008/2007, maybe the house has gone down in value,” said SMU real-estate professor Bill Brueggeman. “They chose to rent.”

However, people who are in search of a house are said to be in a good position.

“From a buyers perspective it’s great,” Brueggeman said. “I mean if you have a good solid credit rating and you can qualify for a loan, mortgage rates are really low.”

Dallas has more to offer homebuyers than an attractive housing market.

“Texas is leading the nation in jobs, so there’s a lot of relocation coming into texas,” Young said. “That means our home sales should remain at a pretty decent level.”

Although Texas does have these benefits, homeowners said homebuyers should choose to look at one specific factor before they finalize a sale.

“Location is so, so important, wherever you are,” McVey said. “That really is an attractive selling point to any buyer.”

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Comments

One Response to “VIDEO: Dallas Housing Market Sees Slow Decline in Sales”

  1. Praveen on April 27th, 2011 7:16 am

    Meredith, really like your video. You got lots of shots of homes for rent/sale.