According to the Associated Press and NAR, Texas had a record year in 2006 whereas the rest of the nation didn't, for the most part.
NAR reported only 6.5 million units were sold in 2006 which was down 8.4% compared to 2005 sales. They also stated that 40% of sales in 2005 were to investors or second-home buyers. Once the market switched in several areas, those investors backed out and have, therefore, decreased sales overall.
Texas sold almost 290,000 homes in 2006 which was the higher amount sold to date.
Even with sales declines across the country in many high-dollar areas, the median sales price was $222,000 compared to $219,600 in 2005.
As I tell all my clients, you can't listen to the national news to see what's going on in our area. We have had tremendous activity where others have not. If more people would look at the facts and not depend on information in other areas, the Dallas area could see even more growth!!
If you're looking to move or invest in the Dallas area, give me a call/email!!