Dallas/Fort Worth Real Estate Market Update October 2012


The following was sent to all members of the Ebby Halliday Family of Companies by President & CEO Mary Frances Burleson:

NATIONAL

HOUSING MARKET SHOWS SIGNS OF LIFE

online.wsj.com – Home prices notched their strongest year-to-date gains since 2005, climbing 5.9% through July and signaling the housing market’s steady move toward recovery.

HOME PRICES BACK TO 2003 LEVELS

money.cnn.com – Case-Shiller index shows home prices improve across 20 major markets for third straight month, taking the index to levels not seen in nine years.

HOUSING MARKET RECOVERY HAS OFFICIALLY BEGUN

business.time.com Time Business: The double digit increases in US housing prices over the first half of the past decade proved unsustainable. But the freefall is over. The point has been reached where housing prices will start to climb, albeit at single digit rates in most markets over the next five years.

REGIONAL

DALLAS HOME PRICES UP 3.7% IN CASE-SHILLER INDEX THAT SIGNALS TURNAROUND FOR NATION

dallasnews.com/business “Absolutely, our view is that the market has turned”, said David Brown, who heads the Dallas office of housing consultant Metrostudy. “My expectation is that we’ll see increasing appreciation in the second half of the year [2012] locally”.

HOUSING STARTS HIT A 4-YEAR HIGH

Dallas Morning News 10/05/2012 “Home builders are digging out of darker days, now can’t keep up with demand despite price increases. [Housing starts] have jumped by more than 24% in the third quarter, with starts of more than 5,100 single family homes”.

NORTH TEXAS HOME FORECLOSURES DROP

Dallas Morning News – Home foreclosure filings in North Texas are down 14 percent from last October, according to data from Addison-based Foreclosure Listing Service. The biggest declines are in Tarrant and Collin counties, where October postings are down 19 percent from a year ago. Meanwhile, foreclosure filings are down 10 percent in Dallas County and 8 percent in Denton County. Just over 3,600 homes are posted for foreclosure sale this month. So far this year, lenders have made 41,916 foreclosure filings in the area. That’s 10 percent less than the first 10 months of last year.

EBBY HALLIDAY COMPANIES

EBBY HALLIDAY COMPANIES SETS SALES RECORD

Sales volume for September, 2012 was up 31% over September 2011, marking the 8th consecutive month of double-digit sales increases. Year-to-date sales through September are up 21% over 2011 and are nearing the levels seen at the peak of the real estate ‘bubble’ in 2006 and 2007.

Home Team Mortgage, an Ebby Halliday Companies affiliated business, is also enjoying a record year in 2012, with increases in their mortgage loan volume of approximately 44% over 2011.

Texas Premier Title Company, LP, another Ebby Halliday Companies affiliated business, now operates six offices in the DFW area and has plans for further expansion in 2013.

Mary Frances