Higher rents in DFW; time to buy a home?While homes prices are up in North Texas, it seems the new year will likely also bring higher rents. Despite being ahead of most of the country in terms of apartment construction, rapid growth in North Texas appears likely to keep putting pressure on supply.

In 2020 alone, the Dallas-Fort Worth area added almost another 120,000 residents. That makes the region a leader in population growth. It doesn’t help either that rising single-family home prices are forcing some buyers to the rental market.

Some economists are already predicting rent prices in the Dallas-Fort Worth area will rise more than five-percent this year. The Marcus & Millichap investment forecast report suggests the average rent will be around $1,395 per month.

If it happens, it will mark the…

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North Texas Home Prices on the RiseIt seems rising home prices in North Texas won’t be getting relief anytime soon. A new report from Realtor.com shows soaring prices and a limited supply for prospective buyers to even choose from.   

The latest figures show the median home listing price in Dallas-Fort Worth hit a record $400,000, which was up more than 14-percent, year-over-year. At the same time, home inventory levels remained extremely low.

Compared to last January, the number of homes listed by real estate agents in the region this January was down by nearly 40-percent. On average, it’s taking homes in North Texas about 43 days to sell. 

North Texas isn’t alone. The trend of higher home prices and lower inventory seems to be happening across the nation.

When comparing the…

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New apartments could be headed next door to the Mockingbird rail station in Dallas. The site for the new apartment tower sits just adjacent to the DART stop, and just east of US 75 and Southern Methodist University. 

Plans call for the new apartments to be built on 16-acres of an existing DART surface parking lot. When finished, the site could include more than 400 new apartments. 

A couple of years ago, DART signed off on a 99-year land lease with the developer. The developer now wants tax help from the city to pay for public infrastructure improvements and to allow for affordable rental units.

For its part, the developer has to construct a 500-vehicle parking garage to replace DART’s existing parking lot. City filings detail the project has to…

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