The real estate turnaround is here to stay, according to the latest report issued by the Federal Reserve Bank of Dallas. The quarterly report stated that a sustained recovery is improving the statewide housing market, and sales and construction are back to pre-recession levels. The report stated that apartment leasing is also showing signs of recovery because of employment opportunities and consequent increases in population. Stephenville homes are likely to remain in high demand as more and more people seek employment in the thriving local economy.
Although the report is certainly welcome news, Stephenville real estate was less impacted by the recession than other cities across the nation. Texas continually outperformed other states in the midst of the recovery, and apartment demand has caused a decrease in vacancy. Low prices and interest rates are compelling more potential buyers to consider Stephenville homes, but the increase in demand is likely to indicate higher home prices.
In general, the increase in demand for North Texas housing will have a positive effect on the entire economy. It will boost economic sectors such as manufacturing, financial and real estate services, and contribute to sustained job creation in the areas surrounding Stephenville homes. Although the housing market still has to overcome hurdles such as pending foreclosures and tight credit conditions, it is well-positioned to continue growth well into the next fiscal year, which could mitigate some of the damages caused by the prolonged recession.
We’d love to show you our favorite Stephenville homes on the market, and are excited to work with you to find the best one to suit your needs. Please give us a call to discuss Stephenville real estate today!