DFW Home Prices Sustainable

DFW Housing Market Update - 10/28/2022:  The Dallas Fort Worth, TX real estate market still remains one of the strongest markets across the U.S. as mortgage rates reach an all time high and rise above 7%, the highest mortgage rates have been in the U.S for over 20 years since 2002!  DFW housing Inventory remains low but rising and a decline in home prices for both resale and new construction single family and condominiums is signaling a return to a strong buyer's market in the DFW Metroplex heading into 2023.

April 25th 2022:  In case you haven’t noticed lately, buzzwords like “crash” and “bubble” have been used more often than not when discussing the real estate market in general, and especially here in DFW, where the market continues to be red…

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Caterpillar moving HQ to North TexasAnother big company just added its name to the list of companies moving to Texas. Caterpillar Inc produces construction and mining equipment and has had a home in Illinois for more than 100 years. 

Although the company has had some type of presence in the State of Texas for more than a half-century, the majority of its employees still reside in Illinois. Moving its headquarters from Deerfield to Irving is expected to affect 230 jobs.  

The company hopes it will improve its global access and help attract new talent in the future. The company also credits the region for its high-quality schools and for having a range of different housing prices. 

Last year, Caterpillar announced it was putting its Electric Power division in Irving. That section of…

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Southwest Dallas Apartment Development in the WorksA new apartment community is headed to Southwest Dallas, according to new reports. Being developed by Miami-based Resia LLC, the project is expected to include 336 units and be positioned right next to the Dallas National Golf Club. 

Approximately 17 percent of the apartments will be affordable units, and the development will be Resia’s first multi-family project in the DFW market. 

With population increases and more companies moving to North Texas, the demand for rental units is only expected to grow heading into 2023 and beyond. In fact, Resia already plans to build 8,000 more apartments nationwide by 2025. 

As for the 336-unit Dallas project, plans call for eight three-story, garden style apartment buildings, which will also include a business…

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DFW Housing Inventory Improves; Home Prices Still UpIf you’ve been looking for a DFW home and feeling the pain from a lack of housing inventory, good news is on the horizon. According to newly released market stats, active single-family home listings in the DFW area jumped 26 percent year-over-year last month, reaching 10,560 homes on the market at the end of May. 

Despite the increased inventory, however, home prices are still up 23 percent year-over-year, reaching a whopping $438,000. And prices are up significantly in every single North Texas community compared to this same time last year. 

As noted by the Dallas Morning News, even lower-cost communities like Garland and Mesquite are seeing considerable increases in home prices. Garland homes, for example, have spiked from $270,000 to $342,500…

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Sherman Ranch Master Planned Community A new master-planned community is headed to Sherman, Texas with the inclusion of Heritage Ranch. This new, mixed-used development will eventually make way for more than 750 new homes, plus also some retail space, commercial space, and entertainment space.

Encompassing more than 400-acres, builders in the new community plan to start constructing the first homes early next year, and potentially deliver them by later in 2023 or even early in 2024. The residential section of Heritage Ranch will be built in four different phases, with Highland Homes and K Hovnanian Homes announced as the feature homebuilders in the community. 

Along with the new single-family homes of Heritage Ranch, the new development also plans for a proposed 100+ acre entertainment…

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If you’re looking for a new North Texas home and are open to various locations around the DFW area, Garland is one city you should seriously consider. Perfect located just northeast of Dallas, Garland is located almost entirely in Dallas County, providing residents with a quaint suburban lifestyle while being just minute from the heart of the big city. But if that’s not enough, here are 3 more reasons why anyone and everyone should think about Garland as their next place to call home..

The Historic Downtown 

There’s a lot of suburbs scattered around DFW but few have a downtown quite like Garland. It’s vintage charm that also blends modern industrial aesthetics is truly one-of-a-kind, and the 1941-built Plaza Theater, located right in the center of…

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Downtown Dallas DevelopmentIn case you missed it, the brand new development slated for 2200 Jackson Street that has been in the works for years is finally moving forward, according to new reports. 

Initially, construction started on the six-level underground parking garage, but further development beyond that has been in a holding pattern until now. 

However, general contractor TriArc Construction is restarting work on the 271,000 square foot project, which will include ground level retail space and 246 luxury apartment rentals on top of the already existing garage structure. 

Details about the apartment residence are still limited but units will face Hardwood Park, which is also under construction across the street. 

Once complete, apartment dwellers at 2200 Jackson…

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New Development in DFW 2022 If you’re a prospective home buyer and have been frustrated with the lack of inventory recently, some relief may soon be on the way. According to recent figures, DFW had more than $9 billion in building starts in the first quarter of 2022, enough to rank North Texas third in the country for total residential and commercial construction activity. 

Compared to the first quarter of 2021, the increase in new development starts is up 19%. 

Roughly $4.2 billion of the total dollar volume lies on the residential side, but it is worth noting that this represents a 5% decline compared to last year due to a slowdown in single-family starts by local home builders. 

In fact, DFW single-family building permits were once again down in March, the eighth month…

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DFW Home Prices Compared to Austin Home PricesHomes in one part of North Texas are beginning to cost more than homes in the Austin area. Collin County just saw its median sale price rise 37-percent from March of last year to March of this year.

The county’s median sale price is now $540,000, which is a $65,000 jump from the previous month. According to data out of the Austin area, median prices during the same time period hit $521,000.

When taking a broader look across North Texas, the median home price rose about 22-percent to $380,000 this March. Home prices were up about 19-percent in Dallas County, 23-percent in Tarrant County and 25-percent in Denton County.

Collin County is home to McKinney, Frisco, Celina and Prosper, which just so happen to be some of the fastest-growing communities…

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Dallas Fort Worth Home Buildings Pushing to Meet Housing DemandHome builders in the Dallas-Fort Worth area are doing what they can to try and better meet housing demand. The beginning of the year saw a slight increase in new home construction starts, even despite ongoing labor issues and the high cost of materials.

There were more than 15,000 new construction home starts in the first quarter of the year. That’s up more than four percent when compared to last year. 

Despite this, the housing market in the Dallas-Fort Worth area still faces many challenges. There are a number of people interested in buying a new home, but at the same time, the area is dealing with a shortage of new construction homes for sale.

According to MLS data, the existing home inventory this March in North Texas was only about 2,400…

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