Four DFW Cities Rank in the Top 10 Real Estate Markets 2023
Posted by Kenneth G. Cox on
The North Texas, Dallas-Fort Worth (DFW) region has long been a hotbed for real estate activity, with its vibrant economy, job opportunities, and quality of life attracting both local residents and newcomers. The 2023 real estate market in this region continues to flourish despite rising mortgage interest rates that are averaging around 6.75-7.00%, with four of its cities ranking among the top 10 real estate markets in the country according to a recent WalletHub Study, 2023’s Best Real Estate Markets. These cities are McKinney, Frisco, Denton, and Allen, each offering unique characteristics that contribute to their real estate success.
1. McKinney, TX Real Estate - The Crown Jewel of North Texas Real Estate
Taking the top spot on the list of the…
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With recent home sales and values decreasing around the DFW Metroplex, new construction home builders have started offering incredible incentives to move new home inventory in the Dallas Fort Worth area. The last time home buyers were able to advantage of these types of deals dates back to 2007 as mentioned in an article Anxious Builders Pile on Incentives by Jeff Updike with the Wall Street Journal. Although some of the incentives are not as great as deals offered in the past, home builders in Dallas Fort Worth are currently offering thousands in buyer closing cost/downpayment assistance, free upgrades, interest rate discounts and other creative offers to lure home buyers to purchase.
Dallas-Fort Worth, Arlington TX was recently ranked in the top performing housing markets by NAR (National Association of Realtors). Although existing home sales are predicted to decrease around 6.8% from 5.13 in 2022 to 4.78 in 2023, overall home sales are still expected to be strong esp. in specific hot housing markets such as Dallas-Fort Worth, TX. Lawrence Yun, NAR chief economist, also predicts median home prices to rise in 2023 just .3% over 2022 to an average median home price of $385,800.
With the recent Covid-19 outbreak, generating leads has been especially challenging for agents and brokers alike. Working in the fast-paced DFW real estate industry alone can be challenging, but also rewarding. Like most industries, however, a successful career in real estate ultimately starts with the right company, the right people, the right tools and LEADS!