D-FW: America’s Next Boomtown?


Texas: Land of Opportunity

Texas is the land of opportunity, according to a new report from Forbes on America’s next boomtowns. Forbes analyzed the 53 largest metro areas in the country to determine which have the best chance of prospering in the next decade, and four of the 10 are in Texas.

 

“The most vital parts of urban America can be encapsulated largely in one five-letter word: Texas,” says Forbes, declaring Austin No. 1, Houston No. 6, Dallas-Fort Worth No. 7, and San Antonio No. 8 on the list.

 

“Austin, Houston, Dallas-Fort Worth, and San Antonio are very different places, but they all have enjoyed double-digit job growth from 2010 through 2014, well above the national average of 8.1 percent,” Forbes says. These Lone Star hubs also have experienced huge increases in populations of young, educated millennials and households with children. The metros have also seen hikes in income growth.

 

Dallas-Fort Worth experienced 15 percent job growth from 2010-2015 and an 8.2 percent population increase from 2010 to 2014. And, 33 percent of the population ages 25-44 has at least a bachelor’s degree.

 

Home Sales Increasing


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Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that the U.S. housing market is once again gaining momentum.

 

The National Association of Realtors said today that sales of existing homes increased 2.6 percent to a seasonally adjusted annual rate of 5.04 million homes. It marked the first time that sales have been above the 5 million-mark since October.

 

Nationwide, the median price of a home sold in June was $223,300, up 4.3 percent from a year ago.

 

Closer to Home in North Texas 

 

According to data from the Real Estate Center at Texas A&M and North Texas Real Estate Information Systems, pre-owned home sales in June set an all-time record of 9,481 homes sold in a single month, and median sales prices were 10 percent higher than a year ago at a record $199,900.

 

The Ebby Halliday Companies are setting records as well. Sales volume through June 30 is well ahead of the firm’s all-time record-setting pace of 2013 and sales continue to increase.

North Texas Home Prices Rise in February


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North Texas home sales prices jumped by 13 percent in February over the same month last year.

 

Real estate agents sold 5,495 pre-owned North Texas homes last month – a 2 percent increase from February 2013, according to data from the Real Estate Center at Texas A&M University and North Texas Real Estate information Systems, Inc.

 

February’s home sales gain comes after a 1 percent drop in January from the previous year. That was the first dip in year-over-year pre-owned home sales in the area since early 2010. Notably, the inventory of homes for sale in North Texas in February was 12 percent lower than a year ago.