It’s Friday, so we want to give you some good news that should hold you over through the weekend’s open houses, while you hover expectantly over the fax machine waiting for a seller to accept your client’s offer. First, the Dallas real estate market has fully recovered to pre-recession levels. Second, foreclosure inventory in Texas is down 0.4 percent from a year ago. Third, home prices are expected to increase 4 percent over the next three years.
So, if you’ve got clients who cannot seem to commit to a property, just show them these numbers from the most recent S&P/Case-Schiller report, which shows that home prices are on the upswing, meaning that now is the time to buy that dream home. In the 20-city Case-Schiller Home Price Index composite, every single market showed gains. Incredible!
And according to the June Local Market Monitor report, rents are creeping up, meaning that in this low-risk market environment, it’s time to buy. And if you want to get a good rate on your mortgage, now’s the time to get pre-approved, too, before banks start hiking rates again.
What other signs of economic recovery are you seeing?