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Update Dallas | A central hub for market and real estate news affecting the Dallas region.

A central hub for market and real estate news affecting the Dallas region.



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Why National Homebuilders Love the Dallas-Fort Worth Market

July 19th, 2013 | by The Update
Why National Homebuilders Love the Dallas-Fort Worth Market

If job growth leads to population growth, and population growth leads to housing demand, then Dallas-Fort Worth has the magic formula to attract homebuilders from across the country.

And that’s exactly what’s happening. Homebuilders are headed here in droves, attracted by the strong economy.

Check out this report from Housingwire:

It seems the Dallas-Fort Worth area housing market is luring many national homebuilders to the area. At least that’s what Phil Crone, executive officer at the Dallas Builders Association, says.

“Obviously homebuilders are going to flock to where the population growth and, more specifically, job growth is,” Crone said. “And the job growth is certainly as strong here in Dallas as it is anywhere in the country.”

According to Crone, experts expected the Dallas market to come in at 20,000 permits annually in 2013 — up from 17,000 one-year before. This estimate would be a modest 10 percent gain. However, now the estimates are reaching as high as 23,000 to 24,000 permits.

Click here to read the full article at Housingwire.

Meanwhile, Ted Wilson, principal with Residential Strategies Inc., which tracks and measures North Texas’ residential market, told the Dallas Business Journal that construction activity will continue to grow over the next two years because of low inventory of new and existing homes in the region, coupled with strong job and population growth.

As the home industry rebounds, Dallas-Fort Worth homebuilders are back in business putting up 5,861 new homes, which is a nearly 27 percent jump year over year.

In the past 12 months, North Texas builders put 20,339 new homes on the ground. (Click here to read the full article from the Dallas Business Journal.)

Click here to read more news about real estate and the economy in Dallas-Fort Worth.

Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout Dallas-Fort Worth and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty. For more information on escapes and second homesranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.

 

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