The North Texas housing market has experienced much growth over the first half of 2013, especially in the Dallas area where the foreclosures are trending downward at a remarkable pace.
Citing data from the Foreclosure Listing Service, The Dallas Morning News reported that home foreclosure filings throughout the northern region of Texas are currently about 45 percent lower than where they were this time in 2012.
“For now it looks like we have reached some kind of plateau in the foreclosure levels, and I would expect no reason in the short term for the levels to change much,” said George Roddy, CEO of Addison-based Foreclosure Listing Service. “We have probably reached normalcy in the foreclosure numbers for a market the size of D-FW — something that we have been waiting for, for a number of years.”
If the foreclosure trends in North Texas continue through the remainder of the year, foreclosure postings for the Dallas – Fort Worth area specifically will be at their lowest point in nearly 10 years, the news source stated.
So what all is contributing to the sharp drop in foreclosure filings in North Texas? The news source cites both housing market experts and real estate agents in attributing this trend to rising home prices, which is making it easier for mortgage holders to sell or refinance their homes.
And in turn, the rising home prices can be attributed to increased competition as hungry buyers fight over a limited number of homes for sale due to the low inventory. However, the North Texas housing market experienced such substantial growth over the first half of 2013, it is slowing some but that is natural and to be expected.
In Stephenville, the housing market trends are much like the trends seen throughout North Texas. Here we have a beautiful community that we’d love to show you and even introduce you to some attractive Stephenville homes for sale. Contact us today to learn more.