Is The Real Estate Market Starting To Finally Turn?
There are some encouraging signs that the real estate market may be starting to turn the corner. For example, out in Arizona they are starting to see multiple bids on homes in the ‘starter’ range (prices around $95,000 to $150,000). This kind of activity, should in turn, drive prices up in other price ranges. It was also noted that homes in the ‘move up’ range are starting to see a lot more foot traffic coming through, as well as an increase in sales. Starting from the lower end like this and moving up is, of course, starting to generate a bit of hope in even the high end luxury home builders, but they’re probably not quite ready to start popping the bubbly quite yet.
Granted, this is what’s currently being seen in Arizona, which is still some distance from the Dallas home mortgage market. But the hope is that this type of improvement will be seen to a greater or lesser extent across more and more of the country.