Dallas regularly ranks as one of the top real estate markets in the country, and for good reason. This modern Texas city is one of America’s fastest-growing thanks to plentiful job and educational opportunities and vibrant arts, entertainment and sports scenes. In fact, many residents consider Dallas to be one of the best places to live.
It’s no wonder that Dallas’ real estate market is strong, with great homes for sale in Dallas. Whether you’re a long-time renter purchasing for the first time or looking to make Dallas your new home, here are a few things to note about the Dallas real estate market.
1. Dallas’ Real Estate Market is Robust
The Dallas real estate market is remarkably resilient, even during economic downturns. People continue to relocate to and remain in Dallas for its wealth of employment opportunities. Over the past decade, Dallas had one of the highest job growth rates in the nation with hundreds of thousands of new jobs. Median income also increased significantly, while the unemployment rate declined. Rapid job growth in Dallas and other parts of North Texas spurred high demand for real estate. In recent years, Dallas had the highest number of “home starts,” or new construction, in the country.
2. People Are Trading Up
Homeowners are starting to look for more out of their residences. Simply put, people want more space to increase their quality of life at home. That includes separate areas for home offices and study rooms and outdoor space where they can take a break from the stress and bustle of everyday life. Dallas buyers are also increasingly seeking homes with pools or other outdoor recreation spaces.
As a result, more and more sellers are putting their homes on the market so they can trade-in for a larger option rather than moving out of Dallas altogether. This makes for a healthy real estate market, spurs opportunities along a range of price points and ensures that there are many luxury homes for sale Dallas.
3. Real Estate Holds Up Over Time
Recent years have brought unpredictable economic turns. While real estate markets ebb and flow depending on the times, real estate and fixed assets typically retain value better than other assets and investments. Regardless of whether you’re looking to making an investment out of your home or simply searching for the perfect primary residence, purchasing a home can be a solid financial decision.
