Dallas home sales may spring forward due to change of seasons
Pre-owned property sales in Dallas have increased in various regions across the city, according to The Dallas Morning News. The rising property sales and decreasing housing inventory could lead to higher prices, which may force people to pay more for houses for sale in Dallas as the year progresses.
"The supply of inventory in the North Texas housing market continues to shrink," D'Ann Petersen, chief economist with the Federal Reserve Bank of Dallas, told the news source. "If the trend toward rising sales and falling inventory levels continues, we could see prices tick up in 2012."
According to the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems, there was a 16 percent increase in property acquisitions between the first quarters of 2011 and 2012. Additionally, there were more home sales in Colleyville, East Dallas, northwest Dallas and McKinney during the period.
A steady local economy and low interest rates from banks help make 2012 a perfect time to relocate to Dallas. Your real estate options may become pricier as more people look to move to the city, but banks can provide assistance to get you relocated successfully.
Dallas lenders give you a variety of options, including adjustable- and fixed-rate mortgages. You may be eligible to obtain interest rates between 3 and 5 percent on some of these allowances. Contacting lenders may help you review your current financial situation and develop a plan to acquire property in Dallas.