Monday, October 20, 2008
North Dallas Suburb Housing Markets Turn Upward
Posted on Monday, October 20, 2008 at 02:13PM by Bill Webb Post a Comment On September 10th I wrote about a possible turn in the housing statistics in Plano and other North Dallas Suburbs. Those numbers were confirmed by the September statistics as Plano, and Allen lead the way to a significant change in pending sales, active listings and the months supply of inventory. For instance, Plano has a pending sales to active listing ratio of over 23%. This is up from 18% in August. Allen was even more dramatic in going to 23% from 16%. This show a definite narrowing of the available supply to the existing demand. Richardson numbers also showed improvment. While McKinney and Frisco also improved, the numbers for those two areas are still lower than they showed be in order to proclaim an end to the housing slump. All of this may be tempered by the financial mess of the last two weeks. We will almost certainly see weaker numbers in October. As we work through the financial maze we should see stronger housing market in the months to come. Bear in mind that we can change directions in a minute depending on the direction our overall economy takes. I do believe that the relative strength of the Dallas economy is contributing to this housing turnaround. Dallas builders have also done a fairly good job of reducing inventories to manageable levels. As it stands now I think we will see a stronger housing market starting with November and carrying through to 2009. If you would like clarification of the numbers below or have secific questions about your area or neighborhood please email me or call. We would be happy to help you with information about your area.