A recent report from PricewaterhouseCoopers and the Urban Land Institute, Emerging Trends in Real Estate for 2019, named the DFW Metroplex as the top real estate market to watch in 2019. There were 79 cities included in the annual forecast report, with San Antonio and Austin the other Texas cities making it into the top 20.
Dallas-Ft. Worth made the top spot for a few reasons, including population growth projections and a relatively low cost of living. Other factors in DFW landing at the top spot include elevated business start-up activity, a young workforce, and development of spaces where residents enjoy life and career to the fullest.
While Austin came in at number 6, other top 10 cities included Brooklyn, NY, Raleigh-Durham, NC, Orlando, FL, Nashville, TN, Boston, MA, Denver, CO, Charlotte, NC, and Tampa, FL.
Partner at PwC Mitch Roschelle said that discipline being practiced in the real estate market along with a strong economy make the Metroplex a market to watch, and that if a downturn is in the future, it would not be caused by real estate. Roschelle said he sees conservative behavior in the DFW market and hopes this conservative approach in terms of developing real estate and creating new supply continues. Even as the demand for real estate growth pushes forward, the market has refrained from getting ahead of itself with this cautious behavior.
The report claims there is a shortage of affordable single-family homes, although the fact there are affordable homes contributes to the success of DFW. With growth in population among those ages 20 to 40, it is a growing and popular destination among young people.
At Team Nelson our Dallas-Ft. Worth Realtors can help you with all of your real estate needs. Whether you are interested in purchasing a commercial property or luxury home, buying a farm or starter home, selling your property, or learning how to go about building a custom home and choosing a reputable builder, we are ready to assist you! Let us help make North Texas the home you’ve always dreamed of.