The Dallas Housing Market Explained (2022)
Some of you might be wondering what is going on in the Dallas market? So we’re going to fill you in a little.
You have to really know what’s going on in the market. That’s why it’s a great idea for you to give us a call or shoot us a text or email. You could even sign up for a free strategy session. We’ll answer all your questions.
The Dallas Daily News had an article called Dallas area still leading the nation in commercial property deals and said “there have been almost $33 billion worth of Dallas-area real estate transactions so far in 2022.”
That is no small number. Clearly, more businesses are starting, growing, and expanding, especially in the Dallas-Fort Worth area.
The article went on to say, “During the first nine months of this year, more than $32.8 billion in Dallas-area property sales were recorded, a 10% gain over the same period last year, according to the latest data from MSCI Real Assets.”
Going on, it said, “The Dallas-area surpassed second-ranked Los Angeles, which had $23.8 billion in transactions, and Atlanta at $21.8 billion.”
And, “The count of transactions in Dallas is nearly 20% above the average number seen in the five years prior to the pandemic.”
That is significant. But what does all of that mean for the housing market?
Commercial Investment Increases Housing Needs
Whenever you see a large commercial investment, it means more people will be moving to that area. And more people means the need for more housing.
Over 21 corporations moved to Texas in the last year alone, most of them to Dallas.
The Dallas Daily News had another article called Property owners hope new convention center will boost downtown Dallas’ sleepy south side . The new convention center will be right in the center of downtown Dallas and take the place of the current convention center.
This is just one example of commercial real estate that will drive more people to the Dallas area. And when that happens it boosts the housing market.
We are seeing an influx of people moving to Dallas, Texas and a lot of that has to do with the fact that Dallas has a freedom friendly, tax friendly, and business friendly environment. It’s a place people want to live and work.
Affordable Housing in the Dallas Market
Dallas still has some of the most affordable housing in the United States. We get calls all the time of people wanting to relocate because they can no longer afford to live in places like California, New York, or even Austin.
As of right now, housing prices are still increasing, even upwards of 10% or more. And in Collin County, housing prices have increased almost 20%. Houses are on the market about 32 days, which may seem like a long time, but in reality, is pretty fast. You might have heard of some houses being on the market for only 2, 3, or 5 days, but that is rare. In reality, it used to be 90-120 days or longer. So 32 days is great.
So we could say that the Dallas housing market is really strong right now.
What’s more, Dallas is centrally located so you can get anywhere in the continental US within only a few hours. It’s an attractive area for many reasons, one of which is certainly its affordable housing.
Perks of Moving to Dallas, Texas
Besides the affordable housing, what are some of the perks of moving to Dallas? Here are a few of them:
- The job market is booming – As stated before, many companies are moving to the Dallas area bringing more job opportunities.
- No state income tax – Not all states have this perk, but Texas does, which makes it an even more attractive place to move to.
- Great weather…most of the year – With the exception of hot summers and some severe storms, most of the year Dallas has perfect weather.
- Excellent schools and education – Dallas is above average in the nation for test scores, graduates, and awards for their excellent education.
- Proximity to anywhere you want to in the continental US – hop on a flight and you can be anywhere in the continental US within four hours or less…without jet lag.
- Great outdoor recreation and entertainment – Dallas has various lakes and hiking and biking trails perfect for the outdoor enthusiasts.
- Biggest arts district in the country – Artists and art appreciators alike have great opportunities to show their work and appreciate local talent with museums, art studios and galleries, and classes for those wanting to learn.
Dallas has so many advantages that once someone moves there, they don’t want to leave. It becomes home very quickly and provides the experiences and attractions that make life more enjoyable. It’s no wonder companies and people are flocking to the Dallas area.
In Conclusion
You can’t go wrong choosing a home in the Dallas area. The market is still strong and better than most of the other cities in the United States. Sellers are willing to negotiate. Many of the homes are selling lower than what they are worth, enabling buyers to walk into instant equity.
If you want to hear more about Dallas and what it has to offer, watch this video all about it.
We can find a deal in any market. We have helped more than 175 families relocate to the Dallas area from out of state, as well as local residents wanting to move, just this year. And if we can help them, we can certainly help you, too.
Give us a call so we can answer all your questions and help you find the right deal for you and your family.
The post <strong>The Dallas Housing Market Explained (2022)</strong> appeared first on Living in Dallas Texas Team.
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