Dallas Homes Hold Their Value
Published by Shannon Johnston | November 30th 2008 | Views:Loading
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Dallas residents should not be concerned about losing equity in their homes, according to a study by the Center for Economic and Policy Research and the National Low Income Housing Coalition.
In fact, life appears to be better in Texas. Dallas, Houston, San Antonio metros are among the top 5 targets for strong home purchase values.
The study, relative to Dallas, is based on purchases of homes priced at about $150,000. For analysis, the home purchase is assumed to be financed at between 6 and 8 percent interest. By 2012, the Dallas home purchaser may find more than $80,000 in equity in their home, the researchers predict.
"It confirms that there never was a price bubble in any Texas city, and consequently the likelihood of equity increase is higher," Dr. Dotzour said. "I find it interesting that their policy decision is to recommend that government allow prices to continue to fall." Median home prices, which remained low throughout the nationwide housing growth, have only fallen 2-3% in North Texas since June 2007.
By comparison, over the past year, collective nationwide home sales prices have declined over 15%. Dallas Homes continue to hold their value and appreciate and a steady and sustainable rate over time.
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Shannon Johnston is a Dallas Homes Broker. Through her experience and her homes search site, DallasFamilyHomes.com, she and her real estate team help homebuyers find and purchase Dallas Homes for Sale.- Latest Home Articles
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