Dallas, Fort Worth and Arlington are the largest cities in North Texas. Dallas represents the primary economic center of this 12-county metropolitan area.The Dallas, Houston, Austin and Dallas Texas real estate markets are all in relatively good health in comparison with other metro markets over the Usa as we begin the brand new Year. Dallas could steer clear of the housing bubble market designation in 2007/2008 and is still bucking the national downward trends. Costs are stable and showing some price range increases in a few areas as the markets move into 2010. The caution here however is the fact that a definite downward trend is beginning to emerge that began in the last weeks and months.The question remains how severe this downward turn will be. These first couple of weeks of 2010 should provide some understanding of how prolonged and just how severe the marketplace downturn is going to be.
Trends in both Austin and Dallas are steady but exhibit seasonal effects in regard to housing inventory levels. Houston housing inventories experienced a significant drop during 2008 but leveled out in 2009. San Antonio inventory declines were slower to occur. San Antonio's housing inventory peaked at the begining of 2009 and it has continued a stable decline.
Austin Texas saw home starts throughout the fourth quarter of 2009 decrease slightly in the same period a year ago. This market performance compares favorably along with other major metropolitan areas and suggests that the foot of the market continues to be, or will quickly be reached. Austin home starts were 60 % below the 2006 peak of 17,128 starts and 25 % less than the number of housing starts in 2008. The Austin marketplace is also seeing some minimal price decreases although these drops could deepen once foreclosures peak and also the first time home-buyer credit disappears.
Most analysts agree that even though North Texas real estate market is more stable than many other metro areas prices continues to drop not less than the very first many months of 2010. The posh housing market will lead the continued price declines and also the entry level housing industry (homes $200,000 and under) will most likely lead the resurgence for the NorthTexas real estate residential market.