Home Prices Will Go Crazy

“Something is going to have to give (in the DFW market) or you are going to see prices go crazy,” said Mark Dotzour, chief economist with the Real Estate Center at Texas A&M.  “Forget about the housing bubble issue – this is really about supply and demand in the DFW market.”  Supplies of both new and pre-owned homes in the DFW market are at the lowest level in decades because of lower construction levels and record demand for properties.  “You have a huge increase in demand because of the change in buyer psychology,” Dotzour said.  “The normal supply side is constrained because of credit and availability of labor.”

  •           Dallas Morning News, January 18, 2014