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http://www.realestatewebmasters.com/blogs/dallas-realtor/7065/show/ quote: The Real Estate Center at Texas A&M University recently had this to say:
- The risk of lower home prices was evident in many other
areas of the country in the U.S. Market Risk Index. The mortgage
insurance company found that half of the country’s biggest housing
markets face a high probability of having lower home prices in two
years.
- For Dallas, David Berson, PMI’s chief economist,
said “the basic story hasn’t changed, although risk has risen a bit
given the economic downturn. Still, I’d feel a lot more comfortable
with a house in Dallas than one in the Oakland area.”
- In
2008, North Texas had a 3 percent decline in overall median home sales
prices compared with 2007, according to statistics from area real
estate agents. For more than a year, PMI Group has rated the Dallas
area as having a low or minimal risk of home price declines.
- Other
Texas home markets, including Fort Worth, Houston and San Antonio, are
also at the bottom of the price decline risk index. The markets with
the greatest likelihood of home price declines are Riverside, Calif.,
Miami and Ft. Lauderdale, Fla.
- Despite some small dips
in the last year, homeowners shouldn’t expect large and long-lasting
declines in home values in North Texas. According to the PMI Group, the
Dallas area is the least likely of any of major U.S. metropolitan
market to have home prices lower two years from now than they are today.
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