Real EstateDallas ISD is holding public information meetings for a proposed Tax Ratification Election to be held in November, a Desoto man has been tapped by Governor Abbott for a spot on a real estate advisory committee, and we take a look at how the market did in the area in July in this week’s real estate news roundup. (more…)

Even though housing sales in Texas fell 3.2 percent, demand is still strong, the Texas A&M Real Estate Center’s June Housing Insight revealed. The same report revealed that Dallas’ affordable housing problems aren’t anywhere close to abating.

The report said that the Texas Residential Construction Cycle (Coincident) Index reached its highest level since 2008 last month, largely thanks to construction employment and wages. The index measures current construction activity in the state.

Housing shortages seem to have spurred an increase in supply activity, as the inventory of vacant developed lots rose 3.3 percent in Dallas-Fort Worth. However, single-family housing construction fell 1.8 percent in the second quarter. Texas is still at the top of the market with 16 percent of the national total for permits, though, and Dallas-Fort worth comes in at a strong second to Houston’s permit activity with 3,295. (more…)

200

It’s no secret that $200,000 won’t get you far in some places — for instance, in Manhattan, it’ll get you 126 square feet of home, which is about half the size of the average one-car garage, a recent analysis by PropertyShark revealed.

“While the results were indeed astonishing, we didn’t think there would be such a huge discrepancy between the most expensive and least expensive cities,” PropertyShark’s Robert Demeter writes. (more…)

home sales

(Graph courtesy Zillow)

Foreclosure starts are up locally, Dallas-Ft. Worth market continues to significantly outperform all other cities in the state when it comes to home sales, and several local cities and towns are among the top places in Texas to live.

We take a look at all of that and more in this week’s roundup of real estate news. (more…)

A slowdown isn't a bad thing for real estate

The slowdown in the real estate market is more like a shift toward balance for sellers and buyers.

WOW–tremendous responses and feedback on Part I of this real estate slowdown blog topic from last week.  Thanks so much!  Nice to know people are reading, following and giving thought to #tarrantcountytuesday.

Last week we established (with data) that there indeed is a slowdown or market shift in the housing market.  One Dirty Reader asked about this “recession” and I would strongly caution the use of that word.  There’s a big difference from a slowdown to a recession.

Is This Slowdown a Good Thing?

Many have indicated that this shift from a sellers’ market to a buyer-friendly market might actually be a good thing.  I would agree.

As the data indicated, when prices are increasing so quickly, interest rates are going up and individual incomes not keeping pace buyers aren’t buying.  That’s not good for anyone in the real estate business. (more…)

homeIt takes about a year and a half for a home to hit the buy-rent breakeven horizon in the Dallas-Fort Worth area, research by Zillow economists for the first quarter of 2018 revealed.

The Zillow Buy-Rent Breakeven Horizon measures the amount of time it takes for owning a home to make more financial sense than renting the same home. (more…)

gasAfter a fatal home explosion three weeks ago that left one family burying their daughter and two neighborhoods reeling from the shock that the problem has been an ongoing one, the immediate concern was about safety.

But now, a little more than a week into the massive, 2,800-customer gas service shutdown in Midway Hollow and the Love Field community, people who had been planning on selling homes in the area have begun wondering — what will this do to property values? (more…)

Watauga’s 76148 was named the hottest ZIP code by Realtor.com. (Map: Google Maps)

Is it the year of the affordable suburb? As more Millennials search for single-family homes with affordable addresses, more and more suburbs with short commutes and great prices are catching on. So we’re thrilled to see some lesser-known neighborhoods get attention as Realtor.com has named Watauga’s 76148 as the nation’s hottest ZIP code for the second year straight.

“Millennials are the largest generation in U.S. history and they are flexing their muscle when it comes to the housing market,” said Danielle Hale, chief economist for Realtor.com. “Increasingly, the hottest housing markets are the ones that appeal to millennial preferences, and right now the standouts are relatively affordable suburbs with local ‘it’ factors such as hiking trails, great restaurants, and nightlife. With the largest cohort of millennials turning 30 in 2020, we can expect these types of areas to stay in demand in the years to come.”

(more…)