While our team of North Texas real estate agents focuses on helping clients who want to sell or buy a home, there has been some great news on the home front recently. According to Steve Brown, reporter for the Dallas Morning News, multi-family home construction, such as apartments, is sky-rocketing. In fact, we’re building these developments faster than all other states in the nation! Of course there is a downside to it all in the fact that rent has increased an average of 3% – more reason to buy a beautiful Flower Mound or Denton home, rather than paying out big bucks every month with nothing to show for the investment.
There is more great news for the Dallas-Ft. Worth metro area, as homebuilders in the area began construction on nearly 6,000 homes in the second quarter of this year. Even better, homes sold in the second quarter increased by 25% over the number of homes sold this same time last year. In fact, new home sales were the highest they have been since the beginning of the recession in 2008. Fabulous news!
David Brown of Metrostudy forecasted that on the high end of the scale, homebuilders will begin construction on about 22,000 homes this year. It’s easy to see that North Texas and the Dallas area are attracting new homeowners and apartment dwellers like flies to honey – but those of us who’ve been around for a while know there is no better place in the country to live and raise a family.
While we still have a way to go to climb back up to what was the peak of local building in 2006, this news is great, so we’ll definitely take it. But buyers beware – as this trend continues, home prices will only get higher! That’s why it’s a good time to buy now.
At Team Nelson, we’re the North Texas real estate agents who make a real effort to match homebuyers with their “perfect” home. Looking to sell your home? Buy a home through us, we will sell your home for free.