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