Is it a good time to invest in Dallas-Fort Worth real estate? The numbers suggest it is. The Dallas Fort Worth (D-FW) housing market is expected to sizzle in 2021, real estate experts and economists say. Despite the current global pandemic, D-FW continues to show growth and is leading home price gains, pulling in sixth place in a recent survey done by Zillow.
A record of more than 119,000 single-family homes were sold by North Texas Realtors in 2020, even during the peak of the global pandemic. In December 2020, Dallas was seen leading the market, only to be overtaken by Austin, which snatched the top spot in January 2021.
An earlier study by Attom Data Solutions showed that home markets in the Northeast and Middle Atlantic states had the most to lose to the pandemic. Meanwhile, the Dallas-Fort Worth metro area was counted among the least vulnerable markets. As such, it came as no surprise when the D-FW housing market ended 2020 and started 2021 on a strong note. But where it was about market resilience a few months ago, this time it’s all about the growing demand for homes.
According to Zillow’s senior economist, Jeff Tucker, the current global pandemic has accelerated trends from 2020, pushing home buyers to exchange their lives in expensive coastal metros such as New York, Los Angeles, and San Francisco and move to warm-weather cities like the Dallas-Fort Worth area.
Scorching hot opportunities going fast
Experts agree that “Sun Belt” destinations like Austin and the D-FW area are magnets for migration. Apart from enviable location, these areas offer:
- Better-priced single-family homes
- Rapidly growing economies
- 232 days of sunshine
Other factors that have driven the market are:
- Record-low mortgage rates
- Increased demand for living space
- Increased number of first-time millennial home buyers
Most importantly, there is an improved economic outlook supported by the progress in administering coronavirus vaccines.
All of these factors ensure the continued strength of the D-FW housing market for the foreseeable future.
Invest in North Texas real estate
The soaring demand for new and existing homes means North Texas homes have flown off the shelves, so to speak. Realize your real estate goals in the area before the Dallas-Fort Worth market overheats.
Sarah Boyd & Company can help you take advantage of this ripe housing market. Our real estate team has over 13 years of hands-on experience buying and selling land, equestrian properties, and luxury homes in North Texas.
Here’s what one client had to say: “My family has moved several times for work. We chose Sarah Boyd to help us buy our new home because of her local knowledge of the market place and expertise in ranch/horse properties. A horse property was new to us and Sarah walked us through all of the need-to-knows for this type of property ensuring we got what we wanted without getting in over our heads. When it came time to sell less than a year later she went above and beyond the call to make sure things went smoothly while getting top dollar for our property. Sarah is a talented professional that I highly recommend.”