With rising inventory, lots of eager buyers, and affordable prices, Dallas ranks as one of America’s hottest real estate markets in 2023. Let’s look at how experts are rating the Dallas market and why.
Zillow Says Dallas is Getting Red Hot
Zillow predicts that Dallas will be America’s fourth-hottest real estate market in 2023. The real estate marketplace makes its ranked determinations based on growth in forecasted home value, fast-moving inventory, and the number of likely buyers. Zillow says of Dallas, “Shoppers here may do best to stay on top of listings. Popular homes will still go fast.”
Metro Homebuyers Are Moving In
According to Redfin.com, newfound freedom with remote working and the search for more affordable options have caused a shift; a record number of home searchers are moving to different metropolitan areas across the United States. By the fourth quarter of last year, Dallas had risen to number six among metro areas nationally. Redfin determines the ranking of these areas by net inflow, defined as the “number of Redfin.com home searchers looking to move into a metro area, minus the number of searchers looking to leave.”
The Dallas Suburbs Are in Demand
U.S. News & World Report says, “Continued demand may mean the Dallas-Fort Worth housing market fares better than other parts of the U.S. in 2023.” Where exactly is it faring the best? The media company says the Dallas suburbs, where affordable land is available, have the area’s biggest boom of single-family home construction. And they predict an uptick in the construction of affordable homes on the outskirts of the metro area.
DFW is a Leading Buyer’s Market
The Dallas Business Journal reports even higher expectations for the Dallas-Fort Worth housing market in 2023. Based primarily on projections for housing supply, the outlet predicts DFW “will be the nation’s top buyer’s market for homes this year.” This forecast comes from the Knock Buyer-Seller Market Index, which analyzes metrics in the nation’s 100 largest housing markets and ranks the markets according to the highest expected inventory gains. DFW ranks second in the country for the largest increase in the number of homes for sale in 2023.
Don’t miss out on the opportunity to find your dream home as this red-hot buyer’s market sizzles. Contact the expert loan originators at the Decker Group at First United online or call us at (972) 591-3097.