The turnaround in the Texas housing market continues, which is good news for Stephenville home owners who were affected by the housing crisis. According to a recent report issued by CoreLogic, rising home values are reducing the number of residents who owe more than their home is worth. During the first quarter, fewer Dallas-area home owners with a loan were underwater with their mortgage than at the end of 2011. Since 2009, many Texas properties have begun to increase in value, and the median price of homes sold by real estate agents in North Texas is up approximately 7 percent from the first half of 2011.
CoreLogic Chief Economist Mark Fleming said that some of the markets hardest hit by the recession are making a quick improvement to their outlooks. He attributed the turnaround to rebounding home prices, a proportional balance of real estate supply and demand, and a decreased share of distressed sales activity. He said that reducing the number of underwater households is a significant step toward overall recovery in the Texas real estate market.
Signs of improvement will bolster sales of Stephenville homes as the recovery continues to attract new consumers to the Texas real estate market. Foreclosure filings in the Dallas-Fort Worth area are approximately 9 percent below where they were for the same period last year, and this is good news for residents who are struggling to maintain ownership of their homes as the economy continues its gradual recovery.
Our team of real estate professionals would love to help you with the process of finding your next Stephenville home. Give us a call today to find out more about the best Stephenville real estate on the market!