Whether you are a buyer or seller, you have probably been reading numerous articles, listening to news reports and talking with colleagues about the real estate market.  Is now a good time to buy or sell? 

While we are still considered to be in a buyer’s market, meaning that there are a large number of homes for sale and prices are competitive, the future is looking brighter for sellers too.

A recent article in the Wall Street Journal reported that “Home prices in major U. S. cities registered the first monthly gain in nearly three years, according to a new report that provided fresh evidence that the severe U. S. housing downturn could be easing.”

Although overall home prices are still down in comparison to last year, the DFW Metroplex is up approximately 1.9 percent.  “…likely sales spurs included mortgage rates that fell to 50-year lows, an $8,000 federal-tax credit for first-time homebuyers (transactions must be closed by November 30,2009 to qualify) and the ability of buyers to secure mortgages from the Federal Housing Administration with as little as 3.5 % down.”, according to the Wall Street Journal.

Lawrence Yun, Chief Economist, National Association of Realtors Research says, "recent figures on home sales – both pending and closed indicate that housing market recovery prospects have improved considerably. Pending home sales (contract signings) in June rose again for a fifth consecutive month. We’ve also seen downward trends in housing inventory and distressed property home sales. Both of these developments suggest that the market is moving back towards more normal conditions.

So, for all of you considering purchasing a home in the near future, YES, it is a great time to buy! 

For those considering making a move, whether you want to downsize or if you need more space for a growing family, the market could work in your favor too.  While prices are not where they were, things are looking brighter.  Fortunately, we never experienced the severe price drop that occurred in other parts of the country.  So, there are plenty of buyers looking for homes in our marketplace and when your home sells, you will also have the benefits available to you as a buyer!

Hurry while there's still time to take advantage of the first time home buyer credit and historically low interest rates.  Call us today and we will get you on your way to finding the right home!
817-441-7707