As of December 2007, Dallas homes for sale were on the market an average of 80 days prior to being sold. Only Denver has a faster turnaround time, and both cities are faring well compared to other areas around the nation. As a comparison, houses in Miami are spending 143 days on the market, while both Minneapolis and Detroit homes are waiting 136 days prior to being sold.

The Dallas real estate market continues to fare better than the rest of the nation in terms of home values as well. Dallas was one of only two cities to post an increase in median home value for homes listed for sale. The other city with a gain was Phoenix. Compared to the double-digit losses some cities are suffering, even nominal gains in home values right now are considered a victory.

The number of Dallas homes for sale dropped as well. There were eight percent fewer homes for sale in Dallas in December than there were in November. A comparison of housing inventory between December of 2007 and December 2006 showed the same number of homes for sale during each period.

Economists agree that in order for the housing market to make a recovery, there needs to be a combination of a reduced inventory of available houses and a reduced amount of time houses spend on the market. Dallas could suffer setbacks if there is a general decline in the economy, but for now it looks like the Dallas housing market picture looks promising.