Over the course of 2016, the DFW and North Texas real estate market reached all-time highs in home prices and commercial sales, which has been largely fueled by the region’s incredible job growth over the past 12 to 18 months. Some industry experts are comparing 2016 to the insane development boom of the 1980s, only on somewhat of a more sustainable level.
Both Fort Worth and Dallas each saw demand rise substantially for both apartments and high-rise office space, and that’s a trend that will likely carry-over into the beginning of the new year and likely beyond. But as 2017 approaches, many are starting to wonder just how much longer will this robust real estate market last?
For young and first-time home buyers, increasing mortgage rates will no doubt affect entry-level home sales moving forward. But if employment and job growth continues at a pace anywhere close to what we say in 2016, expect another extraordinary year for both the DFW housing market and the real estate market overall.