Tornado Victims Face Tough Housing Market

Victims of the Dec. 26 North Texas tornadoes are facing a tough decision whether to buy a new home or rebuild.

Those who choose to buy are entering a housing market where homes are already in short supply.

"They're going to be hard-pressed to find a house – even the people who are in the market – because of so many companies that are relocating to this area," said real estate agent Matt Hilton.

New figures show how hot the housing market is in the Dallas-Fort Worth area.

According to the MLS, houses stayed on the market an average of 26 days in December, compared to 44 days in November.

Hilton said tornado victims looking to relocate could also face sticker shock.

"People who may have been living in a house, they may have been paying a lower amount, but when they go out to market and find a new home, they're going to be surprised at how high houses have gone," he said.

Rebuilding won't be easy either. Hilton said skilled construction workers are in short supply right now.

"Those people who are rebuilding, even in the builder market now in the Metroplex, they're having a hard time finding the trades – whether it be for framing, concrete work, for anything," he said.

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