Dallas home resale price drop is minimal compared with other U.S. cities

Another of the many stories in the good news/bad news vein these days: The DMN headlines its latest residential real estate story "U.S. home resale prices dive 16.6% as Dallas' dip 2.7%." Further good news for our area from the story: Among the 20 major U.S. cities tracked in this particular study, our area had the smallest decline in home prices compared with sales in August 2007, while Phoenix and Las Vegas both reported drops exceeding 30%. More bad news nationally was that the results from 13 of the 20 markets surveyed had worsened from the month before, including the Dallas-Fort Worth area (but by a pretty negligible 0.2%). Bottom line: Things aren't great in the rest of the country, but we're doing pretty well here on a relative basis. I couldn't find the DMN link for its story, but if you want to look at the actual study, click here and then download the August study pdf.