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Texas A&M - 1 month ago

NAR: DFW among top ten markets expected to perform well

WASHINGTON – Dallas-Fort Worth-Arlington is among ten markets that the National Association of Realtors (NAR) expects will perform well over the next three to five years.
Strong job growth is one factor driving up prices in these markets, with payroll employment rising nearly 3 percent annually in the last three years in Dallas, higher than the national rate of 1.6 percent.
Some markets are clearly positioned for exceptional longer-term performance due to their relative housing affordability combined with solid local economic expansion, said NAR Chief Economist Lawrence Yun. Drawing new residents from other states will also further stimulate housing demand in these markets, but this will create upward price pressures as well, especially if demand is not met by increasing supply. ​​​
Movers flock to these markets at higher rates than the average of the 100 largest U.S. metro areas.​ According to the report, nearly 1.1 million people recently moved to the DFW area. The majority of domestic​ movers are from the Houston-area.
One quarter of recent movers are homeowners, with the rest renting. Over half of recent movers who are renters can afford to buy a typical local home.
The median value of Dallas homes purchased by recent movers is $289,700. The city s median income is $57,900, and the median age is 29.
Other cities in the top ten markets, in alphabetical order, are #58;​​Charleston, S.C.;Charlotte, N.C.;​Colorado Springs, Colo.;Columbus, O Fort Collins, Colo.;Las V ​Ogden, U Raleigh-Durham-Chapel Hill, N.C.; andTampa-St. Petersburg​, Fla. ​
The Real Estate Center has more housing information #58;
Dallas housing reports​Texas Housing InsightHome Price Index
All the Right Moves
Housing Activity DataTexas housing newsHousing Affordability Data​​​
Source #58; National Association of Realtors​

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