(214) 926-1363
Sign Up Login

Articles Tagged "DFW Metroplex"

Real Estate News Home

Subscribe and receive email notifications of new blog posts.




rss logo RSS Feed
Allen TX | 8 Posts
Buying a House | 7 Posts
Coming Soon! | 2 Posts
Coppell, TX | 1 Posts
Covid | 1 Posts
Covid-19 Update | 2 Posts
Dallas TX | 15 Posts
DFW | 5 Posts
DFW Real Estate | 30 Posts
Economy | 42 Posts
Exurb Counties | 2 Posts
Financial News | 1 Posts
Forth Worth TX | 1 Posts
Frisco TX | 5 Posts
Home Appraisals | 1 Posts
Home Prices | 6 Posts
Home Sales | 4 Posts
Home Showings | 1 Posts
Homebuyers | 1 Posts
Homeowner Tips | 1 Posts
Homeownership | 5 Posts
Housing Starts | 5 Posts
iBuyers | 1 Posts
In The News | 4 Posts
Inflation | 1 Posts
Las Colinas TX | 1 Posts
New Build | 1 Posts
Plano, TX | 2 Posts
Relocation | 2 Posts
Renting | 1 Posts
School News | 3 Posts
Taxes | 4 Posts
The Economy | 4 Posts
Zillow | 1 Posts
Dallas | Fort Worth | Jobs | Home Sales | Coppell | Flower Mound | Real Estate | Frisco | Relocation | Moving | New Construction | New Building | Home Prices | Home Prices | New Contruction | Growth | Forclosure | fort worth | search for homes | Schools | Taxes | Dallas-Ft Worth | Growth | 55+ Retirement Communities | Frisco | Byron Nelson | New Construction | Jobs | Texas | Schools | Little Elm | Little Elm | Frisco | DART | Commuter Rail | Public Transportation | Argyle | Lantana | New Construction | Fort Worth | Real Estate | RE/MAX | Real Estate | Southlake | RE/MAX | Sales | Agents | Coppell | Carrollton | Plano | Frisco | Irving | Relocation | Dallas | Dallas-Fort Worth | Housing | Real Estate | Economy | buying a house | buying a home | home buying tips | Grapevine | Selling a house | Las Colinas | Valley Ranch | DFW neighborhoods | Southlake TX | Selling a Home | area information | Denton TX | homeowner tips | First-time Home Buyer | RE/MAX DFW Associates | purchase offer | Buying a condo | First-time Buyers | Millennial Buyers | Baby Boomers | Retirement Community | Kitchen Remodel | Increase Home Value | Local businesses | Financing a home | For sellers | Painting tips | Downsizing | Homeownership | For buyers | Anna TX | Melissa TX | Rockwall TX | The Market | Zillow | Renting | DFW Metroplex | Interest Rates | Covid | Pandemic | Omicron | Homeschool | Christian Schools | IBuyers | Investors | Showings | Listings | Homebuilding | inflation | Homebuilding Permits | Home Showings | Appraisals | Exurbs | Suburbs
May
27

RE/MAX Report: Dallas-Fort Worth posts biggest home sales price spike in nation

Dallas-Fort Worth saw the largest spike in home sales prices in the nation, according to a new study, with home prices up 39.5% over last year.  The jump brought the current median home sales price in DFW to $362,782 in April, according to the latest Re/Max National Housing Report.

Todd Luong, a real estate agent with RE/MAX DFW Associates, called the increase "astonishing."    Breaking it down in some of the popular suburbs north of DFW shows Frisco increased 36.6% over one year ago, McKinney rose 34.2%, and Little Elm climbed 33.9% over one year ago, Luong said.  Luong said that population and job growth are pushing home prices higher across North Texas.  "Corporate relocations have been the primary driver for all this," he said in an email. "During these past 10 years, office space in Dallas-Fort Worth has increased by over 55 million square feet, and only New York City has had more office space growth.  "During the same 10 years, industrial space in Dallas-Fort Worth grew by 230 million square feet. All this growth means more jobs, and more jobs mean more people are moving here."

The high price growth affects longtime homeowners and current and recent home buyers and sellers, Luong noted.  He said that appraisal districts have increased 2022 market values significantly across North Texas. On average, he said that home appraisals across Dallas County are up 25% compared to previous years.  "I have never had so many people asking me for help with protesting their property taxes than this year," Luong said. "I hope there can be property tax relief for homeowners in the future. Otherwise, some people may not be able to afford to live in their current neighborhood anymore. I have clients who have already expressed this concern." 

  • Dallas Business Journal, May 18, 2022
May
24

The Pandemic Real Estate Boom is Slowing

Recent housing-market data has shown the massive effect the surge in rates has had on home buyers. "The pandemic boom in home sales is over, and activity is back at pre-pandemic levels," Mizuho Securities U.S. economist Alex Pelle and chief U.S. economist Steven Ricchiuto wrote in a research note.  It's clear that the affordability challenges posed by rising rates and higher prices has cooled demand among home buyers. Nevertheless, home listings remain few and far between. That means that home prices likely will continue to grow — albeit at a slower pace — since even with a reduced pool of buyers there aren't enough properties to grow around, analysts say.

Most economists anticipate that the housing market is balancing out, meaning that bidding wars and contingencies could soon become a thing of the past.

  • MarketWatch, May 8, 2022
May
23

Home showings soaring in Dallas-Fort Worth despite higher prices, mortgage rates

Quickly rising mortgage rates, high home prices and a persistent inventory shortage aren't enough to sideline Dallas-Fort Worth house shoppers, judging by new data on the number of showings per listing.   DFW remains solidly in double-digit territory and among the nation's leaders in the number of showings per home, according to an index by Showing Time, a home touring technology and data firm.  The ratio of showings to listings of DFW homes in March was 16.1. That's the same as it was in March 2021 and down an almost most meaningless 2% from February.  DFW's showings ratio is well above the U.S rate of 9.3 showings per home.  Nationwide, the number of markets seeing double-digit showings per listing jumped 46% in the past two months as buyer demand continues to outpace slightly rising inventory, according to the Showing Index. In hard numbers, that's 83 markets with double-digit showings in January of this year, 109 in February and 121 markets in March of this year.  The ShowingTime Showing Index is compiled using data from more than 6 million home showings scheduled across the country each month on listings using ShowingTime products and services. It tracks the average number of appointments received on active listings during the month.

  • Dallas Business Journal, April 29, 2022
March
23

Downturn Predicted in Home Sales Later This Year

The popular spring home-buying season is just ramping up. But one analyst is warning that it could be a bust.   Ian Shepherdson, chief economist and founder of research consulting firm Pantheon Macroeconomics, is predicting a dramatic fall in the pace of home sales this year. In a research note, he projected that existing-home sales will drop roughly 25% from the annual pace of 6.02 million set in February to a rate of 4.5 million by the end of summer.  

"The housing market is in the early stages of a substantial downshift in activity, which will trigger a steep decline in the rate of increase of home prices, starting perhaps as soon as the spring," Shepherdson wrote in a research note distributed Sunday.  There has been a drop in mortgage demand which typically predicts a downturn in home sales, since most buyers rely on financing to make sure a large purchase. Issues around affordability are likely to blame for the decline. 

The ripple effects of a shift in existing-home sales would be far-reaching, Shepherdson said, arguing that the pace of rent increases would eventually slow and perhaps even reverse. It also would spread to new-home sales, which he expects will likewise fall. A decrease in new-home sales would represent a downward drag on GDP, since that would implicate less demand for services tied to home-building and less spending on items like building materials and appliances. 

The bad news for any Americans who persist in trying to buy a home under these conditions is that it's less clear how this situation will ultimately impact the availability of homes for sale. Part of why home prices have surged is that there is a significant lack of inventory in the housing market, which has fueled competition for what few homes are listed for sale.  A drop in demand would seemingly lead to a boost in the inventory of homes for sale.

  • Market Watch, March 22, 2022
March
19

First Time Homebuyers Squeezed Out of the Market

As home prices soar, housing affordability is sinking to the lowest levels since 2008 and first-time buyers - who haven't benefited from rising home values and are also coping with rising rents - are being squeezed out.

First-time buyers accounted for 27% of existing home sales in January, according to the National Association of Realtors, near 2014 levels. With mortgage rates above 4%, around the highest in about three years, and expected to rise further, buyers on tight budgets may struggle even more to find homes they can afford.

  • Reuters, March 13, 2022
March
18

Home Prices Rise 27% in 4 Suburban DFW Counties

Collin, Denton, Ellis and Kaufman counties

As home costs soar across the state, four counties in Dallas-Fort Worth saw especially significant growth over the last year.  The median sale price for single-family homes increased nearly 27% in Collin, Denton, Ellis and Kaufman counties in February compared with a year prior, according to the latest numbers from the MetroTex Association of Realtors.   Collin County holds the highest median sale price at $475,000. Tarrant County led in sales, with 1,812 homes changing hands.  The sale price for local single-family homes sold by real estate agents across North Texas reached a record median of $365,000 in February, up 21% from a year earlier, according to the latest data from the Texas Real Estate Research Center at Texas A&M University and North Texas Real Estate Information Systems. It shot up $15,000 from January to February, a 4% increase.

"Everyone is hoping for a spring inventory influx, but it's unlikely it will be nearly enough to balance this market," Marissa Benat, president of the Collin County Association of Realtors, said in a statement. "We are getting buyers ready to make competitive offers so they can get moved into their home sooner than later."

Inventory is not keeping up with the high demand, and building permits are down as builders face supply chain and labor challenges.

  • Dallas Morning News, March 16, 2022
February
23

January homebuilding permits plunge in Celina, Frisco, Little Elm, Prosper

Building permits fell sharply in January in Celina, Frisco, Prosper and Little Elm — some of the hottest markets in North Texas and the nation for new home construction last year.  Celina, the top residential construction market in North Texas last year, dropped 51% in the number of homebuilding permits issued in January compared to the same month last year.  Frisco's building permits fell 48% year over year in January.   Prosper dropped 44% in homebuilding permits issued in January.  The January permit plunge was similar in Little Elm which fell 56%. Homebuilding permits also fell in McKinney, which posted a 22% year-over-year decline in January.

The downturn in some of North Texas' hottest homebuilding markets isn't a sign of diminished demand as much as it is a reflection of higher construction costs. The costs of construction nationwide are the highest seen in 50 years with contractors and homebuilders feeling the effects.    Homebuilding costs jumped by 17.5% year-over-year from 2020 to 2021, the largest spike in this data from year to year since 1970, recent data from the U.S. Census shows.  Homebuilders in North Texas last year were hit by an unprecedented swell of housing demand that prompted the industry to boost its production pace, said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies Inc.  But a shortage of labor and materials has driven up costs and stretched out average building timelines, according to Residential Strategies' most recent quarterly market update.

  • Dallas Business Journal, February 16, 2022
February
22

Out-of-town homebuyers are willing to spend more than DFW homebuyers – what's another 10%

Homebuyers looking to move to Dallas from other regions last year, especially from California and the west coast, were willing to pay 10.6% more than locals, new research finds.  People looking to move to Dallas are willing to pay an average maximum budget of $701,760, while locals are willing to pay up to an average of $634,465, according to a recent report from Redfin.   The company compiled the average maximum list price filters for homes in the saved home searches of its users. The analysis includes cities with at least 3,000 home searchers from inside the metro and 3,000 from outside the metro last year.

North Texas suburbs Plano and Frisco are prime examples of out of state transfreees willing to pay more.  Plano's average maximum for migrants was $695,729 and the average maximum was locals was $646,383 for a difference of 7.6% more. Frisco had an average maximum for migrants of $784,688 and the average maximum for locals was $802,154 for a difference of 2.2% less.

States without income taxes such as Texas and Tennessee are seeing many transplants from California who see that as a deal, said Redfin.   "People moving from the West Coast will pay way over asking price without batting an eye," Geyer said. "It's really hard for locals to compete right now, and it can be devastating for first-time buyers who aren't able to offset high prices by selling a home before they buy a new one."   The number one out of state buyer into Dallas-Fort Worth is from the Los Angeles suburbs.

  • Dallas Business Journal, February 16, 2022
February
1

Rents Were Up 29% in the DFW Metroplex in 2021

Rising rents are expected to be a driving force in inflation this year

Average rents rose 14 percent last year nationwide with cities like Austin, New York and Miami notching increases of as much as 40 percent, according to real estate firm Redfin. The DFW Metroplex increased 29 percent.  And Americans expect rents will continue to rise — by about 10 percent this year — according to a report released this month by the Federal Reserve Bank of New York.  "Rents really shot up in the second half of 2021," said Daryl Fairweather, chief economist at Redfin. "The pandemic was kind of a pause on the economy and now that things are reopening, inflation is picking up, rents are going up and people are realizing they don't have as much disposable income as they might have thought they had."  Higher rent prices are also expected to be a key driver of inflation in coming months.   The share of first-time home buyers has dropped to its lowest level in eight years, according to the National Association of Realtors. The group estimates that nearly 1 million renters were priced out of the housing market last year because of rising real estate prices and increased competition from wealthier, all-cash buyers.

  • Washington Post, January 30, 2022
DMCA.com Protection Status
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 06/28/2022. The listing information on this page last changed on 06/28/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of NTREIS (last updated Tue 06/28/2022 7:32:53 AM EST). Real estate listings held by brokerage firms other than RE/MAX DFW Associates may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

ntreis logoThe data relating to real estate for sale on this web site comes in part from the IDX of the Multiple Listing Service of NTREIS. The data on this site may not be reproduced or redistributed and is only for those individuals viewing this web site. Real estate listings held by brokerage firms other than the brokers/agents with their own information using this site are marked with the NTREIS thumbnail logo and detailed information about them includes the name of the listing broker(s).--

Privacy Policy / DMCA Notice / ADA Accessibility

Login to My Homefinder

Login to My Homefinder