North Texas is up and running strong once again. The Texas A & M Real Estate Center is reporting growth rates in Dallas-Plan-Irving metro area to be a strong 3.5% in February 2013, with Ft. Worth-Arlington showing a 4.2% growth rate during the same period. Texas’ seasonally adjusted unemployment rate fell to 6.4 percent in February 2013 from 7.1percent in February 2012.
And with interest rates still below 4% home sales are booming again with most municipal home markets in DFW seeing time-on-market figures between 60 and 70 days. Some sub-markets are far less than that resulting in a very strong sellers' market in many neighborhoods.
As always, be cautiously responsible and don't get more home than you can tolerate when the eceonomy swings downward again in the future but definitely take advantage of these great market signs if you've been sitting on the fence. Market prices are certainly beginning ro rise so don't miss the boat and make your purchasing decisions now before prices get to the top again. As the market always does, they'll rise and ebb over time.
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