Dallas just continues to forge ahead in the US housing market; and the number of home-purchase contracts for this thriving city has, impressively, increased over the last year. Ten of the most-robust major housing markets in the US were analyzed by Meyers Research, a California-based housing analyst; and the results, regarding home-purchase contracts, are interesting. Denver takes the lead; and Dallas fully embraces it’s No. 5 position as it applies to percent changes of year-to-date new-home contracts for 2018, compared to 2017.
Meyers Research tells us that two contributing factors concerning 2018’s home-buying-contract increases for Dallas are: 1) rising interest rates that have aroused an increased number of buyers to purchase new homes before rates become unaffordable and 2) home-price increase rates in North Texas being, noticeably, lower than they were in 2017.
North Texas – Robust and Ready for 2018
Local real-estate agents in North Texas state that home sales rose by 4% through May of 2018. Additionally, through April of 2018, Dallas’ home-buying contracts increased by 8% from where they were during the first five months of 2017. Part of this can be explained by the fact that North Texas’ median home-sale prices have stabilized. By May of 2018, home-sale prices had a meager increase of about 5% which is, certainly, good news when compared to the double-digit gains during the same time period, the previous year.
Reasons for Dallas’ Success
It cannot be argued that Dallas is a hot-spot for company re-locations; and many companies migrate from the West Coast. Texas is applauded for its business-friendly environment that embraces companies with open arms and manages to keep them in the Lone Star State thanks to lower business-operation costs, reduced taxes via government tax breaks, and fewer business regulations. From Jamba to JP Morgan Chase, companies stake their claim in Texas; and this, in turn, continues to greatly stimulate job growth at every level. Dallas’ metro area beckons investors to buy and hold real-estate. After all, buying while prices are still low and watching one’s equity expand, is hard to resist; and it makes good business sense.
Dallas is acclaimed as one the most-robust real-estate markets in the US; and highly-respected media outlets waste no time validating Dallas’ attributes. Dallas News compared the Big D with other coveted metro areas across America, in a variety of prominent categories. Here are just a few, worth noting:
*** #1/37 metro areas: Best Cities to Buy Housing – Forbes
*** #3/21 metro areas: Fastest-Growing US Cities – Forbes
*** #4/10 metro areas: Best Cities for Families – Parenting
*** #5/16 metro areas: Best Cities for Jobs – Forbes
*** #10/200 metro areas: Best Places for Business and Careers – Forbes
*** #15/125 metro areas: Best Places to Live – U.S. News
*** #11/100 metro areas: Best Places to Retire – U.S. News
*** #4/10 metro areas: Best States for Growth – U.S. News
Dallas’ diverse job opportunities and its high-quality of living appeal to millennials, growing families, and retirees. Vicki Fullerton, Chairperson for the Texas Association of Realtors, states that 2017 marked the third consecutive year that Texas gained more than 500,000 new residents who relocated from other states.
Life in Texas is great; and life in Dallas is good – very good!