Dallas ranks first in the nation for the most activity in all sectors of real estate combined over the past decade. From single family, multifamily, self-storage, office, retail, and industrial sectors, Dallas has experienced one of the most impressive real estate transformations between 2012 and 2021… Here’s why.
Dallas is one of the fastest-growing metros in the country, attracting both new residents and businesses over the past decade. 2020 and 2021 saw the highest numbers of permits issued for new single-family homes in the entire decade – 44,000 and almost 50,000, respectively.
Strong Job Market
Returning to pre-Covid levels, Dallas ranks number four in the U.S. job market among the top 50 metros with a growth rate of 4.1 percent between February 2020 to November 2021.
According to the Dallas Regional Chamber, DFW has the best performing major regional economy in the U.S. The latest economic indicators show a complete recovery of jobs lost during the COVID-19 pandemic, and a return to pre-pandemic job creation rates.
Historically Low Interest Rates
For the years 2020 and 2021, mortgage rates were at some of the lowest levels on record which led to a surge in purchasing primary and secondary homes.
With mortgage interest rates ticking back up, that could help ease the upward pressure on home prices, which is good news for buyers who may have felt priced out of the housing market. Speak with one of our experienced loan professionals today to discuss the different loan program options available in the DFW area. Give us a call at (972) 591-3097.