The Hottest Market Ever! (Still!)
Welcome to North Texas, land of plenty and low unemployment, where we have nearly run out of exclamation points in describing the real estate market. The Hottest Market Ever! (Still!)
Great news, everybody. The white-hot Dallas-area real estate market is even hotter than ever. Again!
Pick your data point, and you’ll see proof. Prices? Dallas is beating most of the country there. In the first month of this year, the Dallas area ranked No. 3 nationally for home price gains, trailing only Denver and San Francisco, but easily besting Houston and New York, according to CoreLogic. And real estate tracking firm Zillow Group says prices in the Dallas area will continue to climb in 2016, increasing 5.5 percent.
That gain will be on top of the 14.2 percent price spike across the Dallas area last year. Several communities saw even bigger gains than that—up 22 percent in The Colony, 23 percent in Richardson, and 29 percent in southeast Dallas.
Did you know that more than 100,000 people have moved to the Dallas area each year for the past several years. That’s roughly 300 people moving to this area every single day, all of them in need of a place to live. And as long as the people keep coming and continue to draw paychecks, the hottest Dallas real estate market—ever!—won’t cool off.
~ Credit: BY JOSEPH GUINTOFROM D MAGAZINE JULY 2016 ILLUSTRATION BY CHRIS PYLE