Although Stephenville real estate wasn’t hit as hard by the recession and housing crash as other cities nationwide, it still felt the impact of the economic downturn. However, it has steadily worked toward recovery, and experts predict that a full recovery will take place in the near future. This trend has spread throughout North Texas, and the Dallas/Fort Worth metro area continues to show strong signs of recovery.
A recent study conducted by Florida-based Lender Processing Service revealed that the Dallas/Fort Worth home prices in July 2012 were only 2.2% less than the average home prices at the height of market activity in 2007. The four markets making the strongest recovery nationwide, according to the study, include Austin, Denver, Houston, and Dallas.
One of the biggest contributing factors to the recovery has been the flurry of pre-owned homes flying off the market. Based on figures from MLS listings, pre-owned home sales in the Dallas area have increased by 7% this year, and commanding higher prices than last year, as well. New developments in the Dallas area will provide new home opportunities, but the market indicates that investors and first-time buyers are equally as interested in pre-owned homes.
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