Texas Existing Home Sales Up 17.5%


The following was sent to all members of the Ebby Halliday Companies by President & CEO Mary Frances Burleson. We love hearing good news about the Texas housing market and we thought you would too!

According to an article in the Fort Worth Star Telegram quoting the Real Estate Center at Texas A&M University, the state’s housing market continues to benefit from population and job growth.

Nearly 54,000 existing single-family homes in Texas were sold in first quarter 2013. That’s up 17.5 percent from a year ago.

“We’ve heard a lot about the growth of Texas and now we’re starting to really see the impact on our real estate market,” said Texas Association of Realtors Chairman Shad Bogany.

Real Estate Center Research Economist Dr. Jim Gaines agreed. “There is clearly a demand for Texas homes, and rising prices are encouraging more homeowners to consider listing their properties,” he said.

The median sales price statewide for the first quarter was $158,000, up 7 percent from first quarter 2012.

The month’s supply of inventory of existing homes was 4.2 months, down 28.8 percent from a year ago.

Home sales data for all Texas markets is available on the Center’s Website: www.recenter.tamu.edu/data/hs/
For complete information on all properties currently for sale in the Dallas-Fort Worth and North Texas market, visit www.daveperrymiller.com.

Mary Frances

As Seen in The Dallas Morning News: Now is Ideal Time to List a Home for Sale in North Texas


With rising sales prices, fewer homes for sale and historically low interest rates, spring of 2013 offers potential home sellers the ideal conditions to sell a home in the Dallas-Fort Worth area. Competition among buyers for well-priced listings has become heated, with multiple offers on listed properties common in many area neighborhoods, according to Mary Frances Burleson, president and CEO of Ebby Halliday Companies.

“The latest numbers from North Texas Real Estate Information Systems make a very compelling case for those homeowners who are trying to decide whether now is a good time to sell a home in Dallas-Fort Worth,” says Burleson. A few of the highlights from the NTREIS numbers for March 2013 vs. March 2012 include:

*  Days on Market were down 25.4% to 76 days on average.

*  Months’ supply of inventory was down 33.6% to 4 months.

*  The number of homes for sale was down 23.4%.

*  Percent of original list price received was up 1.7% to 94.4% of asking price.

*  Finally, closed sales were up 9.7%.

“All indications are now is not just a good time, it’s a great time, to list a home for sale in North Texas,” Burleson says. My advice is simple: Don’t delay. Take advantage of our area’s robust housing market today.”

If you’re considering listing your home, call a Dave Perry-Miller Associate to learn more about the real estate market in your particular neighborhood and to find out what your home is worth in today’s market. To learn more, visit daveperrymiller.com.

Dallas Area Third Nationwide Among Markets with High Home-Equity Rates


Steve Brown of The Dallas Morning News reports that with housing values rising in North Texas, Dallas-area homeowners now enjoy one of the best home-equity positions in the country.

Brown cites a just-released report by CoreLogic Inc. showing that at the end of 2012 the Dallas area had the third-highest share of homeowners with mortgages who had positive equity in their homes. Approximately 90 percent of local homeowners owed less than their houses are now worth.

Only Nassau-Suffolk, N.Y., and the Houston area had higher percentages of homeowner equity, according to the CoreLogic report.

At the other end of the spectrum, Tampa-St. Petersburg, Fla., and the Miami area had the lowest equity with more than 40 percent of homeowners with a loan owing more than their property is worth.

Homeowner equity has been growing in the past year as housing markets around the country have turned the corner. During the fourth quarter of 2012, CoreLogic estimates that 200,000 U.S. homes returned to positive equity.

“The trend toward more homeowners moving back into positive equity territory should continue in 2013,” Anand Nallathambi, president and CEO of CoreLogic, says.

In North Texas, median home sales prices were up 8 percent in 2012 compared with 2011, according to North Texas Real Estate Information Systems, Inc. And, during the first two months of 2013, median home sales prices of pre-owned single-family homes were up another 8 percent.

Dallas-area residential properties have regained much of the value lost during the recession, local figures show. A sharp decline in home foreclosure filings and distressed property sales in North Texas during recent months has contributed to the rise in home prices.

Inventories of houses for sale in the Dallas-Fort Worth area are at the lowest level in more than a decade. Homeowners who choose to list a home for sale now will face much less competition than has been the case in recent years.

To learn more about the housing market in your neighborhood and how you can take advantage of the increasingly strong North Texas market, contact a Dave Perry-Miller Associate today and visit daveperrymiller.com.

D-FW tops Affordable Housing Listings



Courtesy of DallasNews.com’s Steve Brown:

Dallas-Fort Worth tops a new list of markets expected to be the most affordable homebuying locations this year. California-based ZipRealty Inc. said it based the ranking on multiple listing service information for real estate agents and U.S. census data.

The Internet residential sales firm compared median home sale prices in 30 metropolitan areas to median household income levels. Along with the D-FW area and Houston, Minneapolis-St. Paul and Orlando are near the top of the list.

“ZipRealty’s analysis shows that in the most affordable areas, the average home sells for about five to six times annual average household income levels,” ZipRealty CEO Lanny Baker said in a statement. Washington, D.C., Brooklyn and San Francisco were all on the list of the least affordable housing markets according to ZipRealty.

Most affordable markets:
1. Dallas-Fort Worth
2. Houston
3. Minneapolis
4. Orlando
5. Las Vegas

Most expensive home markets:
1. Washington, D.C.
2. Brooklyn, N.Y.
3. San Francisco
4. San Diego
5. Los Angeles

The Ebby Halliday Companies: Ahead of the Trend and Leading the Market


The following was sent to all members of the Ebby Halliday Companies by President & CEO Mary Frances Burleson. It was such fantastic news, we thought we would share it with you also:

The National Association of Realtors recently reported its Pending Home Sales Index, a forward-looking indicator based on contract signings (pending sales), was 9.5% above January 2012.

The North Texas Real Estate Information Systems (NTREIS) MLS sales records for January showed an increase of 13% in pending single family residential sales over 2012.

And once again, sales associates at the Ebby Halliday Companies stayed far ahead of the trend locally with January 2013 pending sales that were over 30% greater than in January 2012. And, February pending sales are on track to increase more than 30% over February 2012.

With increases like these, it’s clear that sales associates at the Ebby Halliday Companies are the trend-setters and market-leaders in the Dallas-Fort Worth and North Texas residential real estate market.

Congratulations to this great team!!

Mary Frances

Pending Home Sales Up in January


Pending home sales rose in January, and have been above year-ago levels for the past 21 months, according to a report released today by the National Association of Realtors®. There were healthy monthly gains in all regions but the West, which is constrained by limited inventory but was slightly improved.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 4.5 percent to 105.9 in January from a downwardly revised 101.3 in December and is 9.5 percent above January 2012 when it was 96.7. The data reflect contracts but not closings. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The January index is the highest reading since April 2010 when it hit 110.9, just before the deadline for the home buyer tax credit. Aside from spikes induced by the tax credits, the last time there was a higher reading was in February 2007 when it reached 107.9.

Lawrence Yun, NAR chief economist, said inventory is the key to this year’s housing market. “Favorable affordability conditions and job growth have unleashed a pent-up demand. Most areas are drawing down housing inventory, which has shifted the supply/demand balance to sellers in much of the country. It’s also why we’re experiencing the strongest price growth in more than seven years,” he said.

Yun expects approximately 5 million existing-home sales this year and price growth could exceed a 7 percent gain projected for 2013 if inventory supplies remain low.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

To learn more about how you can take advantage of the increasingly strong North Texas housing market, contact a Dave Perry-Miller Associate today. To get started, visit daveperrymiller.com.

Optimism For Texas Real Estate


The following was sent to all members of the Ebby Halliday Companies by President & CEO Mary Frances Burleson. We love hearing good news about the Texas housing market and we thought you would too!

You should be optimistic about the Texas real estate market in 2013.
Dr. Mark Dotzour, chief economist of the Real Estate Center at Texas A&M University, noted in a recent presentation, “You should be optimistic about the future of housing and economic growth in Texas.” Dr. Dotzour noted several reasons:
* Home prices are up for the eighth month in a row
* Buyer psychology has shifted from negative feelings about purchasing property to positive feelings
* More than 3.6 million job openings are currently available in the US, and many are in Texas
* Americans have credit capacity again.

Dr. Dotzour also shared that home prices in Texas will increase this year because of inventory levels and consumer demand for housing.
Ron Burgert, CFO of the Ebby Halliday Companies, at a joint meeting of several Ebby Halliday sales offices, recently complimented Ebby Associates for their exceptionally strong sales performance during the fourth quarter of 2012, and predicted that the firm’s sales in 2013 could increase as much as 20% over 2012.
It looks like 2013 could easily be a record year for both the Ebby Halliday Companies and the Dallas-Fort Worth and North Texas real estate market!

Mary Frances

Existing Home Sales Up in January


The National Association of REALTORS® reports today that nationwide existing-home sales edged up in January, while a seller’s market is developing and home prices continue to rise steadily above year-ago levels. Sales rose in every region but the West, which is the region of the country most constrained by limited inventory.

Nationwide, total existing-home sales are 9.1% above January 2012.

Lawrence Yun, NAR chief economist, said tight inventory is a major factor in the market. “Buyer traffic is continuing to pick up, while seller traffic is holding steady,” he said. “In fact, buyer traffic is 40% above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. We’ve transitioned into a seller’s market in much of the country.”

The number of homes for sale at the end of January fell 4.9%, representing a 4.2-month supply at the current sales pace, down from 4.5 months in December, and is the lowest housing supply since April 2005.

Listed inventory is 25.3% below a year ago.

For those considering whether now might be a good time to list a home in North Texas, the numbers are even more convincing. Comparing January 2013 to 2012:

* The number of pending home sales is up 15.4%.

* The number of homes sold is up 17.5%.

* The number of homes for sale in North Texas is down 32.3%

* The average time on the market is down 20.8% to 89 days, with many sub-markets experiencing significantly lower days on market.

To learn more about the housing market in your neighborhood and how you can take advantage of the increasingly strong North Texas market, contact an Dave Perry-Miller Associate today at Daveperrymiller.com.

The Best Day to List a Home is…


Courtesy of Ebby Halliday’s Blog:

According to an article published in The Wall Street Journal, recent research indicates Friday is the best day of the week to list a home. Homes listed on Friday, followed closely by homes listed on Tuesday, spend fewer days on market and sell for a price closer to the list price than homes listed on any other day of the week. Richard Ryan, a psychology professor at the University of Rochester who has studied how the day of the week affects mood, explains it this way, “Adults who have a Monday-to-Friday work week tend to be more positive and happier on Fridays, an effect that lasts through the weekend… a time when they may be more pro-active in searching for homes.”

So, what is the best day to list a home in the Dallas-Fort Worth and North Texas area?
At Ebby Halliday Companies, we believe it’s today!

Given the record low inventory of homes for sale in most Dallas-Fort Worth markets, near record-low interest rates available to potential buyers, and a historically low average days-on-market in the area, a well-priced home listed today is very likely to sell quickly and, in many sub-markets, receive multiple offers from which the seller may choose.

There may never have been a better time than today to list a home for sale in Dallas-Fort Worth and North Texas. To learn more about the housing market in your neighborhood and how you can take advantage of the increasingly strong North Texas market, contact an Ebby Associate today. To find the right agent for all of your residential real estate needs, visit our new website at DavePerryMiller.com.

Dallas ranked #2 as one of the Top 10 Moving Destinations in the U.S.


Courtesy of Yahoo! Finance:

Americans are on the move. According to the U.S. Census Bureau, more than 36 million people relocated in 2012, an increase from 2011’s record low mover rate of 35.1 million. And while many of those stayed within the same county, plenty of them packed their bags and moved to a different state.

Data from Penske Truck Rental, a global transportation services provider, showed that warmer climates were the biggest impetus to move last year. Check out where Americans moved in 2012.

Dallas-Fort Worth is ranked #2 as one of the Top 10 Moving Destinations in the United States. Reasonable housing prices, ample job opportunities and pleasant weather continue to draw new residents to the Dallas-Fort Worth area. Enjoy the classic, Texas-style fun, like rodeos, along with fast-paced thrills at the Texas Motor Speedway and Six Flags Over Texas amusement park. Even with all the nightlife, shopping and entertainment that residents enjoy, home prices remain reasonable — the median home sale price is $61,000.

To view the rest of the rankings, visit Yahoo! Finance.