The Dallas-Fort Worth area is one of the top three housing markets in the country, according to a just-released economic report from the Brookings Institution. The D-FW area ranked third among metro areas that have been the least affected by falling home prices.
Despite huge cuts in the residential construction business, Dallas-Fort Worth still ranks second in the country in new-home sales and starts. Only Houston had more new-house construction and sales during the 12-month period ending in March, housing analyst Metrostudy Inc. said Tuesday in a new report.
Most Texas home markets continued to eke out tiny increases in home prices in early 2009, according to a new report by First American CoreLogic. Texas home prices were up by just less than 2 percent in the California-based housing analyst’s latest survey released Monday. While Texas prices rose, nationwide home prices in January fell by 11.6 percent compared to a year ago to the lowest level in almost five years.
Since 1980, population in DFW has grown approximately 3,000,000 people or approximately 2.5% per year on average and three have been approximately 750,000 new home closings in DFW, indicating a ratio of 1 new home closing for every 4 people added.
The Dallas Fort Worth housing market has historically been one of the healthiest housing markets in the country, and it continues to outperform most of the nation today, even in these challenging times. A strong job market, affordably priced housing, and a business-friendly attitude are among the reasons why the DFW area continues to attract relocation from around the country.
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