economic recovery

Dallas real estate agents are reporting positive open house activity over the past several weeks. Coupled with the latest national statistics, this information points toward housing market stability and future growth.

Two weeks ago, LeeLee Gioia and Anne Goyer were somewhat surprised by the constant flow of folks that visited 5808 Falls Road for a Sunday open house. Eager to explore the gorgeous soft contemporary, Dallasites traveled from across the Metroplex – some with an agent, but several on their own.

Because so many people are now researching properties online, they are often incredibly serious shoppers by the time they attend an open house. LeeLee and Anne were both very encouraged by visitors’ genuine interest in their high-end property.

Agent Lisa Besserer recently showcased 9024 Broken Arrow and also reported signs of housing market recovery. The four-bedroom Georgian estate was part of a ‘Great Yards for Easter Egg Hunts’ home tour, which highlighted the property’s lushly landscaped grounds, extensive patio space, and negative-edge pool. Lisa was thrilled to see several “real buyers” rather than casual browsers or drop-by neighbors.

Adding a fresh twist to the traditional open house, Tessa Mosteller and Lucinda Buford have been hosting various shows at their listings. Whether it be jewelry, monogramming, or clothing, each show gives guests a fun reason to step inside a beautiful home. Have they been successful? Most definitely. In fact, the two ladies are displaying little girl dresses tomorrow (4/7) at 4112 Hanover, a light and bright home perfect for spring. For more information, contact Tessa at 214.505.1248.

To sum it up, Dallas agents confirm that consumer confidence has improved significantly, and serious shoppers are back browsing the web, driving the streets, and even taking time to tour the homes.

Click to see this Sunday’s opportunities.

This morning Steve Brown of the Dallas Morning News gave a detailed report of the local housing market, noting that Dallas is poised for a bounce-back in 2010. What makes him think so? Here is a quick overview of his data:

• Sales of pre-owned homes have increased significantly from year-ago numbers
• Home price declines have slowed and almost stopped
• Median home prices have inched up from their bottom in February
• North Texas housing inventory has fallen to the lowest level since 2007
• Home buyer demand is up, which will lead to more building starts in 2010

Brown reports that foreclosures are “unlikely to ease” in 2010. George Roddy, president of Foreclosure Listing Service, commented that even when the economy rebounds in North Texas, the foreclosure market will lag.

Nonetheless, economist David Berson of the PMI Group remains confident: “We expect the Texas economy to perform better than the national average over the next year.”

For further details, visit dallasnews.com.