2010 Dallas Real Estate Forecast Calls for Housing Recovery
December 31, 2009 by Kenneth Cox · Leave a Comment
2010 Dallas Real Estate Market Forecast
Dallas Real Estate Market | 2010 Dallas Home Market Outlook
2009 was a difficult year for both residential and commercial markets in Dallas with record foreclosure filings, depreciating neighborhoods, and high inventory. The only real winners for 2009 were home buyers in Dallas. Most home buyers were able to take advantage of record low interest rates, a large inventory of homes to consider, and a tax credit offered by the government. The only problem with the prefect home buyer equation was lending. Many lenders filed for bankruptcy and those that were able to stay afloat tightened leading requirements presenting roadblocks for home buyers tyring to secure a loan. 2010 is expected to be a year of recovery for the Dallas Real Estate market. Recent reports already show a decline in inventory and increase in home sales for November 2009. This is a great sign and start on the road to recovery for not only Dallas, but other local markets around the U.S. The home buyer tax credit extension and expansion will also assist in recovery and sustainability for residential markets providing home buyers with up to $8,000 tax credit and repeat home buyers up to $6,500 on homes purchased through the end of April 2010.
If you’re looking to buy a home in 2010, you still can expect competitive interest rates, plenty of options, and a tax credit if you qualify. If you’re looking to sell in 2010, you might be able to walk away with money at the table or at least break even which is much better than many that sold in 2009.
For more information on the 2010 Dallas real estate market outlook, please check out our website or contact one of our agents. DFW Urban Realty is your one stop shop for buying or selling Dallas real estate and renting apartments in Dallas. Ask one of our Dallas Realtors or Dallas apartment locators about our new 2010 specials and incentives.
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