According to recent stats from MetroStudy, Inc., The DFW Metroplex led the U.S. in home starts for a 12 month period starting from the middle of last year to the middle of this year, and despite the 20% increase in home starts during that timeframe, demand for housing all throughout North Texas continues to be as strong as ever.
While job and population growth continue to fuel the need for more homes in Dallas, home prices for just about every residential category in the region continue to go up as we make our way through the rest of 2016. Homes with as few as two-bedrooms are reaching as high as a half a million dollars in many parts of central Dallas, and in another decade, finding anything with between two and three bedrooms for under that half million dollar mark will be next to impossible no matter where you’re looking in DFW.
For coastal cities like New York or Los Angeles, sticker shock has long been extinct when it comes to buying a home or condo, unless of course you’ve been living under a rock for a good 20 to 30 years. But as prices continue to skyrocket here in North Texas, Dallas-Fort Worth has all of a sudden become the real estate mecca of the southwest, making your decision to buy now rather than waiting perhaps more important than ever. With interest rates still low, prices still going up, and the inevitable uncertainty of a post-election year, some might say there’s been no better time in recent memory to pull the trigger on a new home, especially if you’ve already been pre-approved and are just waiting for that perfect place to come along. Because in another couple months, that perfect new place could cost much, much more than it does now.