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Report predicts minimal risk for home price declines in DFW

7/8/2009

There’s a “minimal” chance that DFW home prices will be lower in two years than they are today, according to the latest study by mortgage insurance firm PMI Group.

Dallas and Fort Worth rank among the U.S. cities that are the least likely to see a drop in home prices in PMI Group’s first-quarter risk report.

Dallas’ housing market has only a 3.8 percent risk of lower home prices two years from now. In Fort Worth, the likelihood is 5.8 percent.

That compares with a 65.5 percent risk of overall lower home prices in the 50 largest U.S. cities.

The risk of falling home prices rose in the first quarter in 45 of the country’s 50 largest metropolitan areas, including Dallas and Fort Worth.

Dallas’ home price risk is up from 2.5 percent a year earlier. The Fort Worth risk index moved up from 2.5 percent a year earlier.

[Dallas Morning News]

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How is the DFW Real Estate Market?

According to  RECON

Real Estate Center Online News

June 19, 2009

HOUSTON, DFW HOUSING MARKETS SHINE

HOUSTON (Dallas Morning News) – The Brookings Institution has named Houston and Dallas–Fort Worth two of the top housing markets in the country.

Houston ranked first and DFW third among metro areas that have been the least affected by falling home prices.

Home prices in DFW were up slightly in first quarter 2009 compared with those in first quarter 2008, according to the Federal Housing Finance Agency’s quarterly House Price Index.

Of the top 100 metro areas, 38 avoided home-price declines over the last year.

PRESIDIO JUNCTION, WHATS YOUR FUNCTION?

FORT WORTH (Cencor Realty Services) – LNR Commercial Property is finishing infrastructure work on Presidio Junction and beginning vertical construction.

The 300-acre mixed-use development North Tarrant Pkwy. and I-35W will have more than one million sf of retail, restaurants and shops, 1,300 apartment units and 750,000 sf of fitness, hotel and Class-A office space.

Vertical construction has begun on 348 apartment units within the development.

The retail component of Presidio Junction is being handled by the Weitzman Group. Major retailers include a Lowe’s home improvement center.

 SAN ANTONIO ECONOMY OUTPERFORMS NATION

SAN ANTONIO (San Antonio Express-News) – The San Antonio economy has outperformed all of the nation’s largest cities through first quarter 2009, according to a Brookings Institution report.

The city has become accustomed to being labeled a top economy. It recently ranked fifth on Forbes.com’s list of cities most likely to bounce back quickly from the recession.

San Antonio’s economy — driven by sectors such as health care and insurance — has benefited greatly from military expansions and relatively stable housing prices.

The Brookings Institution report measured changes in employment totals, unemployment rates, housing prices, the values of goods and services produced by cities, and other factors.

Other Texas cities listed as top-performing metro areas include:

• Austin (third),
• Houston (fourth),
• Dallas (fifth),
• McAllen (sixth) and
• El Paso (11th).

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