The Case-Schiller index came out last week and it shows the state
of the market compared to major U.S. cities. Take a look: Dallas only
shows a 3.2% decline in sales, one of the lowest decreases.
Be glad you’re not selling in CA, NV or FL. Chart is for single family,
not condos or townhomes.
Now, take a look at this chart from Altos:
Although sales are down a tiny bit – prices are increasing and holding nicely
from a year ago. The market action index shows activity has fallen off
considerably. Normally 30 is a sellers market, it’s down to 17.5 which
favors the buyer.
The problem in Dallas is not the devastating declines and loss of value but
the difficulty of obtaining a loan to buy real estate, especially jumbo loans.
That’s pretty much it in a nutshell.
