By Maxine Shapiro, KERA 90.1 business commentator
Dallas, TX – Let's talk housing and a couple of recent reports. North Texas vs. the rest of the country. I'm Maxine Shapiro with KERA Marketplace Midday.
This might make headlines tomorrow. It was a home "sellers market" in the third quarter and all figures point to a strong fourth quarter. North Texas Real Estate Information Systems, Inc., a leading provider of real estate information, today, released its Economic and Market Watch report for the last quarter. It showed a "dramatic increase" in existing homes sales in the Dallas metro area. Guys, I don't see it. I know one real estate agent who said if she didn't think this slow-down was an aberration she'd leave the business. I'm hearing frustrating news from sellers in all neighborhoods in Dallas. But I have a high regard for this research firm and they obviously know something we don't.
The report also said home prices reflected gains with a 4-percent appreciation from a year ago. But according to the National Association of Realtors, that figure ranks way on the bottom for the national average growth in home values.
I found the list of the "Top Housing Markets" on Money.CNN.com. Riverside/San Bernardino had the largest percentage increase in home values: almost 26.50 percent, followed by L.A. and Atlantic City. Then I began my search for Dallas, Fort Worth or any North Texas city. I started scrolling down, and I scrolled and I scrolled. By now I was looking for any town in Texas. Finally, Corpus Christi. That costal city had an 11.65 percent rise in home value. My quest continued. I was aghast. Rockford, Illinois - once rated the most unlivable city by whoever does those ratings - showed an 8.6 percent increase in home prices.
Where's Texas? San Antonio was a few cities under Rockford, with just over an 8.25 boost in worth. El Paso had about a 6.10 rise, and Beaumont/Port Arthur even beat Dallas as home prices improved nearly 4.75 percent. For KERA Marketplace Midday, I'm Maxine Shapiro.
Marketplace Midday Reports air on KERA 90.1 Monday - Friday at 1:04 p.m.
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