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Dallas Real Estate Pointed Up for 2015!

Great things are expected for the Dallas Real Estate market in 2015 according to a study just released by Realtor.com. Dallas is listed near the top in a list of the top 10 Hot Housing Markets to watch in America in 2015. Jonathan Smoke, chief economist of Realtor.com, says the favorable forecast is a result of a record increase in new employment, an increase of inventory and an affordable market. Smoke goes on to say, “Dallas has been a top market performer and is forecasted to remain one of the best in 2015 as the market excels in almost every major fundamental category.” Real Estate increases are expected not only in rising sell’s prices, but in the number of homes sales as well. The study also suggests that Millennials are no longer “unemployed and living with mom and dad”, but rather are seeing high increases in employment and are now raising families of their own. This will result in a rise in first time home buyers and although prices will continue to rise, the theory is that this will be offset by a rise in income. Specifically for Dallas, Smoke says they are forecasting, “3 percent growth in prices in 2015 and 7 percent growth in home sales.”

A couple things to consider here towards the end of 2014: one if you are considering a purchase of a new home, it might be a good time for you to beat the increased prices that are sure to come towards the spring of 2015. Although you might tend to think that there is little inventory available, we have knowledgeable agents staying on top of the market and are continuing to find clients the home of their dreams. Also, if you have considered the thought of selling your home, there are still a large amount of buyers seeking homes as we speak and are hoping to find a new home before the crowds of buyers are scouring DFW in the “hot” season. Sellers are surprisingly getting terrific value for homes this winter with more buyers than inventory which means it’s still a great time to sell. If you would like a no-hassle, no-obligation Customized Market Analysis of your home, let us know and we would be glad to offer you that free of charge. There will be a great Real Estate year ahead and we look forward to being your one stop for Real Estate needs, questions and success!

Modtown Realty Group