With so many reports across the nation detailing the decline in real estate, I was excited (dare I say, giddy?) to read the positive reports coming out of the local market. I devote time everyday to reading about real estate and market trends. My goal is to provide you with accurate information to make informed decisions. The information that follows, though a dull read, is an exciting and upbeat note in the otherwise flat real estate tune.
According to a new report by the Federal Reserve Bank of Dallas, the Texas economy remains strong and is continuing to outpace the national economy, year-to-date employment growth in Texas through August 2006 was 2.7 percent (an increase of 177,300 jobs). This is more than twice the national rate and consumer sentiment is currently 62% (anything above 50% is considered healthy). With so many markets witnessing a decline in home sales for 2006, the Dallas and Fort Worth metroplex saw an increase in sales with over 116,000 pre-owned homes and over 46,000 new homes sold. The number of homes sold for $1 million or more increased 18%.
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Filed under: Dallas, Fort Worth, Home Buyer, Home Seller, Real Estate, Realtor, Relocation
