The housing market in 2018 is continuing an upward trend as one of the strongest U.S. markets. Although the Dallas housing market has experienced various fluctuations, housing demand and sales have continued to escalate at a high rate for more than two years with no evidence of slowing down. Learn more about the top trends for real estate investors in Dallas.
Real Estate Market Forecast and Trends
Renting in this area is more reasonable than buying, which opens up huge opportunities for real estate investors in Dallas area. The increased growth of the Dallas metroplex is largely due to an influx of millenials relocating to DFW. Millennials prefer renting over buying their own home. There has been a 14 percent increase in demand for rental units over the last year. The Dallas area is rapidly growing and is projected to have at least 20,000 new homes in the metroplex, with a total of 50,000 new single-family homes and 50,000 apartments.
Now Is the Time to Purchase Investment Property in Dallas
The population in Dallas has grown at twice the national rate for the last several years. This escalates the prices of investment properties because of builders not being able to keep up. The housing prices in Dallas have seen an increase of 29 percent over the past few years. Despite the price increases, prices are still competitive for investment properties because real estate investors in Dallas can expect more increases over the years. If you’re waiting to buy a Dallas investment property, don’t wait.
If you’re looking for a commercial real estate firm in Dallas, check out the Avid Realty Partners website today.