DFW Still Bright Amid Nationwide Real Estate Slump

Experts point to stable prices and ideal inventory

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    NEWSLETTERS

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    Beautiful spacious six-bedroom home, centrally located in a quiet Cheshire community. In today's buyer's market, you would think a home like that would have no trouble drawing attention. At least that's what owner Marty Tyrrel thought.

    Cindy Dunnican has been in the real estate business for 10 years. She's seen some ups and downs and says now is not nearly as bad as people probably think.

    "We sold five houses in ten days just last week," Dunnican said. 

    And she's not the only one seeing better business.

    According to DFW Realtors, national home sales increased 6% from November to December of last year, but in North Texas they went up 12%.

    "That's a good step toward starting 2009 off, and hopefully, seeing a rebound in sales here in North Texas," said Bill Head, of DFW Realtors/Metrotex. 

    Head said the market has two things going for it: stable prices and an almost ideal inventory of available homes.

    "We currently have 5.7 months of inventory, and you see a lot of metropolitan areas around the country that are at 10 months of inventory," he said.

    For sellers, Dunnican says that means there is healthy competition for houses on the market. She sold one last week in Rowlett after getting three different offers.

    So what's the bottom line?

    "It's not a bad time to put your home on the market. It's a great time to be selling a home or to be buying for that matter," Dunnican said. 

    Real estate experts say the decline in price in North Texas is so minimal, it can often be made up when buying your next home and taking advantage of low interest rates.