Dallas led much of the nation in terms of housing activity for most of 2013, but the federal government shutting down, along with the changing of the seasons, have affected that North Texas housing market growth, according to recent data analysis from area experts.
The Dallas Morning News reports that housing market activity in the Dallas area has been fairly stagnant since Labor Day due in part to the federal government’s issues as well as rising mortgage rates. However, pre-owned home sales remain on an upward trajectory and have grew by more than 20 percent so far this year. In addition, home prices are still trending upward in many neighborhoods that have experienced double-digit percentage increases so far this calendar year.
“I have heard that the hotness factor may have eased a bit since the summer,” D’Ann Petersen, an economist with the Federal Reserve Bank of Dallas, told the news source. “I think it could be partly seasonal, but I do think that is more normal for North Texas. A less hot market is not a bad thing,” she said. “North Texas is benefiting from good job growth, population growth, and both our housing and apartment markets are healthy.”
This is not especially surprising as the fall and winter months are typically viewed at as slow seasons in the real estate industry. This slow down is typically felt greater in cold-weather states, unlike Texas, which is still expected to rebound from the downward pressure seen due to the mortgage rate trends and federal agencies shutting down.
In Stephenville, the North Texas housing market is no better represented. With a bustling community and beautiful collection of homes for sale, it’s no mystery as to why this suburban hub of Dallas is such a sought-after place to live. If you’d like to learn about Stephenville homes for sale, contact us today.