The latest Dallas Real Estate Market Report is given below. The demand and sales have been climbing at a feverish pace in the Dallas housing market for more than two years now. The market started cooling off in the last quarter of 2019 and remains cold as of now. Dallas housing prices have risen by only 1.9% in the last twelve months. The DFW metro area has experienced smaller price gains as compared to Dallas. Home sales have slowed over the past couple of months and are likely to decline over the coming months as well, as the metro area continues to struggle with a sharp rise in coronavirus cases.
In May 2020, the number of homes sold within Dallas County was down almost 35% from a year earlier. The median sales price dropped by 3.9% to $250,000. There's about a 3-month supply of homes for sale which is well below what’s considered to be a balanced real estate market. From this standpoint, the Dalla housing market still favors sellers over buyers.
Whether you're buying your first income property or just adding another one to the portfolio, the Dallas housing market is a great place to do so as it doesn't get any more “location” than this. The Dallas housing market has always to offer some great profit-generating opportunities to all types of real estate investors. Dallas has a strong economy and a constant population growth and will make your pockets bigger.
As rents go up smart investors should invest in Dallas real estate. Purchasing an investment property in the Dallas real estate market, whether it a single-family home or a multifamily apartment is an investment that can pay out some huge benefits if you have some experience and education in real estate investing. You have to know the best places to put your money in real estate so you must do some extensive research to find out the best neighborhoods in Dallas real estate market.
Top Reasons to Invest in the Dallas Real Estate Market (2020 – 2021)
- Population Expected to Double in Next 15 Years.
- Dallas is one of the leaders in the U.S. for employment and population growth.
- 52.9% of Dallas rents vs. 33% nationally.
- The demand for rental accommodation is increasing year-over-year.
- Low entry prices for Dallas investment properties.
- Newly remodeled REOs (2004 or newer).
- Properties 5% – 15% below market value.
- Cap rates above 6 percent.
- 3-year appreciation forecast of 11.4%.
- It is a good time to buy a house in Dallas due to favorable supply and demand conditions
Let’s continue to explore the Dallas housing market trends to understand what it will look like in 2020. We shall also discuss some important reasons why you may want to consider buying Dallas investment properties in 2020. You will get a fair amount of knowledge of the fundamentals of this hot real estate market. Please note that real estate prices are deeply cyclical because its demand side is impacted by economic cycles. Much of it is dependent on factors you can’t control. The recent example is COVID-19 which has badly impacted our economy. Therefore, many variables can potentially impact the value of the real estate in Dallas in 2020 (or any other market) and some of these variables are impossible to predict in advance.
Dallas Housing Market Trends & Prices 2020
We shall now discuss some of the most recent Dallas real estate trends & news, and compare it with the past couple of years. We shall mainly discuss median home prices, inventory, economy, growth, and neighborhoods, which will help you understand the way the local real estate market moves in this region. Dallas is also one of the hottest real estate markets in the nation. In the past ten years, the annual real estate appreciation rate has amounted to 5.83%, according to NeighborhoodScout.com. This puts Dallas in the top 10% nationally for real estate appreciation. During the latest twelve months, the real estate appreciation rate has been at 5.21%.
If we go back to historical data, the median sale price for a house in Dallas-Fort Worth rose 6.31 percent from $236,100 in November 2016 to $251,000 in November 2017, according to the data from the Texas A&M Real Estate Center. At the start of 2019, the median home value for Dallas, Texas was around $201,000. The median for the broader DFW metro area was a bit higher. That was a gain of more than 13% from a year earlier, according to data collected by Zillow.
Predictions were pointed to a home-price growth of 7% and 10%. However, that did not happen and the prices grew by roughly 3% between Jan 2019 to Dec 2019 (Zillow). Although home prices in Dallas continue to rise faster than the national average, however, there is a cooling trend taking place. But if the inventory continues to grow in the Dallas real estate market, it will likely lead to smaller home price gains in Dallas in the future. And that’s probably a good thing. When home prices rise at a much faster pace than local wages and income, it can create affordability problems. So a cooling trend could be beneficial at this point.
Is Dallas going to be one of the hottest real estate markets for investors in 2020 and 2021? To answer this question, let’s take a look at the latest Dallas housing market trends.
Impact of Covid-19 on the Dallas Housing Market
Covid-19 pandemic has slowed down the home sales over the past couple of months. Dallas home prices continue to strengthen despite the low sales. Below is the Q1 2020 report of the Dallas Housing Market. The source of this report is Texas REALTORS®. The report compares key housing metrics of the entire Dallas-Fort Worth-Arlington MSA from Q1 2020 with Q1 2019.
Low inventory keeps this region strongly skewed to sellers. As you can see in the report, the median prices rose in every segment as compared to last year with the highest gain in the segment of $200,000 – $299,999. That’s partly because there are more investors and buyers on the more affordable end. As you up the pricing spectrum, the number of eligible buyers drops off.
The median sales price rose by 5% to $273,000.
From the homes priced in the range of $0 – $99,999, the median price rose by 2%.
From the homes priced in the range of $100,000 – $199,999, the median price rose by 18.3%.
From the homes priced in the range of $200,000 – $299,999, the median price rose by 37.8%.
From the homes priced in the range of $300,000 – $399,999, the median price rose by 21%.
From the homes priced in the range of $400,000 – $499,999, the median price rose by 9.8%.
From the homes priced in the range of $500,000 – $749,999, the median price rose by 7.4%.
From the homes priced in the range of $750,000 – $999,999, the median price rose by 2%.
From the homes priced in the range of $1,000,000+, the median price rose by 1.7%.
Active listings were down by 17.2% to 19,469.
Closed sales were up by 7.1% to 21,520.
Days on market was 90.
Months of inventory was 2.2. In 2019 Q1, it was 2.8.
Dallas County Housing Market Report May 2020
Dallas is a minimally walkable city in Dallas County with a population of approximately 1,197,970 people. There was a decline in home sales and price in May due to the effects of the COVID 19 pandemic. The double-digit decline in April and May led to an overall decline year-to-date compared to 2019. According to Mymetrotex, the Dallas county housing market did not perform well when compared with 2019.
- The median sales price dropped by 3.9% to $250,000.
- Active listings dropped by 11.8%.
- Days on market was 75.
- Closed sales were down by 34.9%.
- Months of inventory = 3.
Dallas Real Estate Market Forecast 2020 – 2021
Dallas Real Estate is one of the most affordable in the state of Texas. It is also one of the hottest real estate markets for rental homes in the nation. Before the Covid-19 pandemic hit the nation the Dallas real estate market was expected to outperform the nation in 2020, in terms of annual home value appreciation. What are the Dallas real estate market predictions for 2020?
Let us look at the price trends recorded by Zillow over the past few years. Since 2015, the median home prices in Dallas have appreciated by roughly 58% from $143,000 to $226,145, according to Zillow’s index. At the start of 2019, the median home price in Dallas was around $201,000 and it was a gain of more than 13% from a year earlier. The Dallas housing market predictions for 2020 are pointing to a 3% rise in the home values.
The Zillow Buyer-Seller Index (BSI) shows that Dallas is currently a cool buyer’s real estate market. This is computed monthly. According to their index, there exists a general lack of demand in Dallas, and homes can linger on the market longer and ultimately sell for less, putting negotiating power in the hands of buyers. In other words, based on the last month’s key housing market indicators, current supply is exceeding the demand, giving buyers an advantage over sellers in price negotiations. There are more homes for sale than there are active buyers in the marketplace.
The latest Dallas real estate market forecast is that the home prices may decrease by 2.4% – in the next twelve months. It is expected that the supply exceeds demand metrics will continue to favor buyers at least until the first quarter of 2021.
Here is the visual representation of historical Dallas home prices and the latest forecast until March 2021.
Screenshot Courtesy of Zillow
Here is a short and crisp Dallas housing market forecast for the 3 years ending with the 3rd Quarter of 2021. The accuracy of this forecast for Dallas is 76% and it is predicting a positive trend. LittleBigHomes.com estimates that the probability of rising home prices in Dallas is 76% during this period. If this price forecast is correct, the Dallas home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018.
The change in home prices for Dallas-Plano-Irving, TX are shown above for five time periods. Dallas real estate appreciated 1.80% in the Last Quarter. At that rate, the Dallas Real Estate Market was ranked 162nd out of 381 metropolitan Real Estate Markets. So Dallas, TX performed better in the Last Quarter than 57% of the 381 metropolitan areas covered in LittleBigHomes.
Time Period Dallas Metro Area Real Estate Appreciation
Last Quarter 1.8%
Last Year 7.6%
Last 5 Years 58%
Last 10 Years 66%
Last 20 Years 136%
The question now is what happens moving forward. These numbers can be positive or negative depending on which side of the fence you are — Buyer or Seller? While many have lost jobs, making them ineligible for a home mortgage, some sellers have taken their homes off the market. The decrease in the number of active listings indicates that new sellers are still not willing to put their homes on the market until the pandemic or its threat is completely over.
At the same time, the industry is adapting to the current environment by conducting business using technologies such as virtual showings and e-signing to help buyers and sellers with their housing needs in the face of these challenges. While some economic activity will resume as the state gradually reopens, the housing market is expected to remain sluggish for the next couple of months until the economy opens up completely.
Dallas and the entire metro area market is so hot that it cannot shift to a complete buyer’s real estate market, for the long term. In a balanced real estate market, it would take about five to six months for the supply to dwindle to zero. In terms of months of supply, Dallas can become a buyer’s real estate market if the supply increases to more than five months of inventory. And that’s not going to happen. Therefore, in the long term, the Dallas real estate market remains strong and skewed to sellers, due to persistent imbalance in supply and demand.
We think that the Dallas housing market would remain neutral or a buyer’s real estate market. Sales are likely to decline over the coming months as well, as the metro area continues to struggle with a sharp rise in coronavirus cases. In the current cycle, the home prices may remain flat or drop in the coming months to favor buyers.
This means you can probably buy a home for less than list price, and the seller might be willing to pay some or all of your closing costs. It is expected that there will be some increase in the inventory levels due to COVID-19. If buyer demand eases, we could see a positive influence on the low inventory of Dallas while at the same time seeing a negative impact on sales. Whether you’re looking to buy or sell, timing your local market is an important part of real estate investment.
For sellers in Dallas, it is a great time to sell. Motivated buyers are looking for houses for sale, and you are not competing with as many property owners. Many sellers have chosen to back out amid this pandemic.
For buyers in Dallas, the inventory is relatively increasing & mortgage rates are at their lowest. As listings linger on the market for longer, buyers have a special edge in negotiating sales prices. As a result, buyers who enter the market at this should have more options than usual when it comes to choosing a property. So they should take advantage of scooping up their favorite deals which otherwise are taken away by seasoned investors in the bidding wars.
Dallas Real Estate Market: Where Can You Find Homes for Sale?
Dallas has a mixture of owner-occupied and renter-occupied housing. According to Neighborhoodscout, a real estate data provider, one and two-bedroom large apartment complexes are the most common housing units in Dallas. Other types of housing that are prevalent in Dallas include single-family detached homes, duplexes, rowhouses, and homes converted to apartments.
Dallas is among those US cities where renting is more reasonable than buying. One of the many reasons Dallas has been growing over the years is because young people have moved there and continue to do so, and the preferred starting with rental properties before buying their own home. The demand for rental units has increased 14% over the last year, so it's the perfect opportunity to invest in Dallas real estate.
Single-family homes account for about 43.51% of housing units in Dallas. At the national level, the single-family rental homes have grown up to 30% within the last three years. Almost all the housing demand in the US in recent years has been filled by single-family rental units. With 2020 being, theoretically, in the middle of a boom, there are still 4 years for residential construction to surge. Most likely, a housing shortage will remain in 2020, keeping home prices high.
Dallas-Fort Worth homebuilders started 33,891 houses in 2017, an increase of 4,488 houses or 15.3 percent above 2016 home starts of 29,403, according to a report from the housing analysis firm of Residential Strategies. Dallas is one of the nation’s largest metropolitan areas. With a population of more than 7 million in the Dallas-Fort Worth CMSA, there has been a tremendous amount of real estate development activity to support this growth over the past 65 years.
After the great recession of 2008, renting a home has increased exponentially across the nation. There are currently over 136.57 million housing units in the U.S. In 2018, the total number of homeowner households hit an all-time high of 76.2 million. 36.6% of households rent their homes and 64.4% buy their homes (2018 U.S. Census Bureau).
Currently, there are 4248 homes for sale in Dallas, TX on Zillow, an online real estate database company. Additionally, there are 1448 homes for rent. Under potential listings, there are about 23 Foreclosed and 42 Pre-Foreclosure homes. These are the delinquent properties that may be coming to the market soon but are not yet found on a multiple listing service (MLS).
- The median list price per square foot in Dallas is $202, which is higher than the Dallas-Fort Worth-Arlington Metro average of $140.
- The median price of current listings in Dallas is $365,000.
- The median price of homes that were sold in March was $321,700.
- The median rent price in Dallas is $1,700, which is the same as the Dallas-Fort Worth-Arlington Metro median of $1,700.
There are currently 5495 homes for sale and 2833 apartments & homes for rent in Dallas, TX on Realtor, a real estate listings website. These could include open houses, and homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. As we write this, 437 homes were newly listed on the market. According to their statistics, in May 2020, Dallas was a balanced real estate market, which means there was a healthy balance of buyers and sellers in the market. The median list price of homes in Dallas, TX was $399K in May 2020, trending down -10.9% year-over-year. The median listing price per square foot was $204.
Ideally, a buyer would prefer a sale to asking price ratio that’s closer to 90%. The sellers in Dallas have managed to hold good leverage in these negotiations in the past month. On average, they could sell homes for 98.01% of the asking price. A seller would always prefer scenarios that can yield a ratio of 100% or higher.
Dallas Housing Market: Foreclosure Statistics In 2020
Here are some foreclosure statistics of the Dallas housing market. As per the Dallas foreclosure data provided by Zillow, in Dallas 0.2 homes are foreclosed (per 10,000). This is lower than the Dallas-Fort Worth-Arlington Metro value of 0.3 and also lower than the national value of 1.2. The percent of delinquent mortgages in Dallas is 1.3%, which is higher than the national value of 1.1%. The percent of Dallas homeowners underwater on their mortgage is 5.7%, which is higher than Dallas-Fort Worth-Arlington Metro at 4.4%.
There are currently 339 properties in Dallas, TX that are in some stage of foreclosure (default, auction, or bank-owned) while the number of homes listed for sale on RealtyTrac is 3,691. In May, the number of properties that received a foreclosure filing in Dallas, TX was 106% higher than the previous month and 20% lower than the same time last year.
No. of Foreclosures in Dallas 339 (RealtyTrac)
Homes for Sale in Dallas 3691
Recently Sold 7861
Median List Price $335,000 (2% rise vs Apr 2019)
According to RealtyTrac, the zip code with the highest foreclosure rate is 75216, where 1 in every 1572 housing units is foreclosed. So, you’d find a lot of distressed sellers in this area and get some discounted off-market deals. 75249 zip code has the lowest foreclosure rate, where 1 in every 2535 housing units becomes delinquent.
Dallas Real Estate Market: Is It a Good Place for Investment
Now that you know where Dallas is, you probably want to know why we’re recommending it to real estate investors. Investing in real estate is touted as a great way to become wealthy. Is Dallas a Good Place For Real Estate Investment? Many real estate investors have asked themselves if buying a property in Dallas is a good investment? You need to drill deeper into local trends if you want to know what the market holds for the real estate investors and buyers in 2020.
If you are looking to make a profit, you don’t want to buy the most expensive property on the Dallas real estate market and expect to make a good profit on rents. Perhaps you are looking for a slightly different hold-over, a turnkey property in Dallas that you might move into or sell at retirement in the future! Either way, knowing your profit potential and purpose is the first thing to consider.
Let’s take a look at the number of positive things going on in the Dallas real estate market which can help investors who are keen to buy an investment property in this city.
Growing Real Estate Market
One of the largest metropolitan areas in the USA, Dallas is currently the beating heart of the Texas housing market. Dallas's population has grown at twice the national rate for years now and this pushes the prices of Dallas investment properties higher due to builders not being able to keep up. Dallas home prices have been on the rise in the last 10 years. In fact, over the last 6 years, 3 bedroom homes in Dallas have appreciated by 45%. During the same period, 3 bedroom home prices in Dallas appreciated by 41% nationwide.
Dallas's housing prices have increased 29% over the last three years, even with these increases in home prices, they are still competitive for investment properties and you can expect further increases over the years. This shows us that home prices in Dallas are rising more quickly than most other cities across the nation. If you want to buy an investment property in Dallas, don't wait around, go ahead and do it.
In January, Zillow published a forecast that included what they felt would be the ten “hottest U.S. housing markets for 2019.” Dallas was ranked at number seven on that list. They looked for metro areas with strong income growth, growing populations, and low unemployment, and several other factors. San Jose was ranked number one in the hottest markets forecast.
A strong economy has buoyed home prices in Dallas beyond their fundamental levels for a sustained period, according to a report by Florida Atlantic University associate dean Ken Johnson. Home prices in Dallas are still appreciating in but at a decreasing rate, suggesting that the current upward pattern in property appreciation is nearing an end. A bubble is not likely but a significant slowdown in-home price increases are most likely, according to James Gaines, chief economist with the Real Estate Center at Texas A&M University.
He said that things may slow down in Dallas, but it would take a major economic event to do that. The university study isn't the first to warn of a home price correction in the Dallas area. But other reports by CoreLogic and Fitch Ratings have said North Texas home prices are overheated.
And with the outbreak of COVID-19 pandemic, things have really slowed down, at least for the short period. In May, there was a decline of 3% in the median home price in Dallas County.
No State Capital Gains Tax
Texas has no state income tax, and many property owners are attracted to the state because no state capital gains tax on income from sales of property (Landowners still have to pay federal taxes on their gains under certain situations). This makes investing in Texas more lucrative for investors. Dallas house prices are also much lower than in other major cities. The result is an attractive rental property market for domestic and international investors alike. According to the Texas Association of Realtors, around one-third of international investors come from Latin America, just ahead of those from Asia. European buyers make up around one in 10 buyers, while Indian buyers are also a notable presence in the Texas real estate market.
Dallas' Strong Economy
You should think of investing in Dallas real estate because it has a very diverse economy so there is a niche' for people of every income level. It is estimated that 340 people move to Dallas-Fort Worth every-day. Dallas has the lowest homeownership rate in the country, with renting more affordable than buying. It is home to a large number of corporate headquarters, the city is a significant financial hub in the South of the USA. Dallas's local economy is a mix of aerospace, computer chips, telecommunications, transport, energy, and healthcare sectors and the Finance and Business Services. These sectors are all providers of good wages which allows for a strong market for Dallas investment properties.
Additionally, since 2014, 15 major tech companies have moved to Dallas, Texas bringing advancement and job growth in industrial and professional areas. These factors contribute to the immense growth of the Dallas real estate market. Tourism is on the rise in Dallas, Texas which promotes job growth to towns and neighborhoods within the area. Some of the common points of attraction are the AT&T Stadium, Reunion Tower, and Book Depository. Dallas is becoming a hub for start-ups and IT companies which has led to an increase in investment in the Dallas real estate market.
Strong Dallas Rental Market
Texas has some of the best colleges in the country. And with the instrumental position held by the University of Texas, Dallas, and Northwestern State University, all students and eventual graduates are going to be in the rental market at some point. According to RentCafe, The average rent for an apartment in Dallas is $1,250, a 4% increase compared to the previous year. 216,192 or 42% of the households in Dallas, TX are renter-occupied while 289,624 or 57% are owner-occupied.
More than 80% of the apartments can be rented for less than $1500. If you buy an investment property in Dallas, there are the statistics that there is no shortage of people looking for a place to live here, which means there is no dearth of prospective tenants for your Dallas investment property. The annual vacancy rate of rental properties in Dallas is very low as compared to other cities which is another good reason for investing in the Dallas real estate market.
The most affordable neighborhoods in Dallas are Arbor Ridge, where the average rent goes for $772/month, Arbor Springs, where renters pay $772/mo on average, and Casa Loma Estates, where the average rent goes for $772/mo.
Graph Credits: Rentcafe
Dallas Investment Properties: Where to Buy?
If you have decided to invest in Dallas, you can either buy a fixer-upper or you may want to buy a Dallas investment property. This market offers a wide range of turnkey investment properties; you just have to find your tenants to rent out the property. Good cash flow from Dallas investment property means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt. Therefore, finding the best investment property in Dallas in a growing neighborhood would be key to your success.
When looking for real estate investment opportunities in Dallas or anywhere in the country, the generally accepted standard is to purchase a property that will give you a modest but minimum of 1% profit on your investment. An example would be: at $120,000 mortgage or investment cost, $1200 per month rental. That would be the ideal equation for example. Even with rent increases, buying a $500,000 investment property in Dallas is not going to get you $5000 per month on rent.
The three most important factors when buying a real estate anywhere are location, location, and location. The location creates desirability. Desirability brings demand. There should be a natural and upcoming high demand for rental properties. Demand would raise the price of your Dallas investment property and you should be able to get a good return on your investment over the long term.
The neighborhoods in Dallas must be safe to live in and should have a low crime rate. The neighborhoods should be close to basic amenities, public services, schools, and shopping malls. A cheaper neighborhood in Dallas might not be the best place to live in. A cheaper neighborhood should be determined by these factors – Overall Cost Of Living, Rent To Income Ratio, and Median Home Value To Income Ratio. It depends on how much you are looking to spend and if you are wanting smaller investment properties or larger deals in Class A neighborhoods. The inventory is low, but opportunities are there.
NORADA REAL ESTATE INVESTMENTS has extensive experience investing in turnkey real estate and cash-flow properties. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. We can help you succeed by minimizing risk and maximizing the profitability of your investment property in Dallas.
Consult with one of the investment counselors who can help build you a custom portfolio of Dallas turnkey properties. These are “Cash-Flow Rental Properties” located in some of the best neighborhoods of Dallas.
Not just limited to Dallas or Texas but you can also invest in some of the best real estate markets in the United States. All you have to do is fill up this form and schedule a consultation at your convenience. We’re standing by to help you take the guesswork out of real estate investing. By researching and structuring complete Dallas turnkey real estate investments, we help you succeed by minimizing risk and maximizing profitability.
Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make. Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.
Is It The Right Time To Invest In Real Estate? – The national homeownership rate is on the decline for the first time since 2017. As demographics change and baby boomers retire, you’re seeing Millennials who may not be ready to buy houses. In 2018, Millennials made up about 22 percent of the population in the United States. They’re choosing to rent over buying a single-family home or an apartment. Rising home prices and shortage of starter homes have not left Millennials many choices but to delay homeownership. Moreover, it's even harder to take out a mortgage for those who have student loan debt.
Dallas | Texas Real Estate Investment Opportunities
Texas is a great market for real estate investing. Apart from Dallas, you can also invest in the housing market of Houston. Houston has a track record of being one of the best long term real estate investments in the U.S. The Houston Real Estate Market forecast is good, and current housing prices are relatively low. The Houston metro area offers great opportunities for investors who are looking for a stable market that offers both cash flow and equity growth at a price that is STILL well below their replacement value.
The next one is the San Antonio real estate market. For those who want to invest in rental real estate, the San Antonio real estate market is an ideal location because of the outsized military presence. Fort Sam Houston is located inside the city limits. Lackland Air Force Base, Randolph Air Force Base, Camp Bullis, and Camp Stanley are located in the immediate vicinity. This means that there is a large population that will almost always rent because they don’t know where they’ll be sent on their next assignment.
San Antonio has a dearth of affordable housing because demand is so much greater than the supply. This has created a large number of renters who need to pay quite a bit to rent apartments or single-family homes. We know there is a lack of housing relative to demand when a balanced market has a 6 month home inventory and San Antonio has only a two-month inventory.
The El Paso real estate market is another hot market to invest in. El Paso real estate market was ranked at 4th in Trulia’s hottest real estate markets to watch in 2018. El Paso’s strong job growth, affordability, low vacancy rates, and a high population of young households were pivotal in the ranking process. The cost of living in El Paso is lower than the national average, while the cost of housing is well below that of other major metropolitan areas, including Houston and Austin.
The Central, Cielo Vista and Mesa Hills areas offer more affordable rental properties for sale, while neighborhoods in the northwestern and eastern parts of the metro area have some of the more expensive housing inventory. The amount residents spend on everyday expenses, such as food and transportation, is slightly less than what the average American pays.
The Austin housing market is one hot place to invest in Texas. It isn’t the largest in the state of Texas, but there are several reasons to consider buying real estate in this city. The Austin real estate market has gained a lot of steam, with home values almost doubling since 2010. The Austin real estate market isn’t as big as Dallas, San Antonio or Houston. One of the long-term strengths of Austin is its diverse economy. The Austin real estate market dipped after the layoffs of the Dot-Com boom. They decided to solve the problem by encouraging medical and biotech employers to relocate to the area, too. As of this writing, there are 85 biotech and pharmaceutical companies in Austin.
Let us know which real estate markets in the United States you consider best for real estate investing!
Source: Norada Real Estate Investment