Photo courtesy of Robert Hensley via a Creative Commons license

Photo courtesy of Robert Hensley via a Creative Commons license

Dallas is one of 15 top markets poised to attract baby boomer homebuyers because of an affordable cost of living, sunny weather, and friendly business climate, according to new research by the National Association of Realtors (NAR).

NAR looked at 100 metro areas with lower state taxes (or none at all, as is the case in Texas), stable job market conditions, and strong migration patterns of “leading-edge baby boomers” (those 60-69) moving to that area. By doing this, they predicted which housing markets are likely to see a boost from baby boomers. Cost of living, housing affordability, and housing inventory availability were also factors in their rankings.

For these reasons, Dallas was identified as one of five markets with strong potential for attracting baby boomer homebuyers.

“It comes down to housing affordability, and lower tax rates in the Dallas area and the state as a whole,” said Adam DeSanctis, NAR economic issues media manager. “More boomers after 65 are working, some because they have to, or feel like they have to, but also those that are healthier and want to maintain an active lifestyle. Those [baby boomer] business owners come to Dallas for its dynamic local economy.”

(more…)

Lawrence Yun

Lawrence Yun is the  Chief Economist and Senior Vice President of Research at the National Association of Realtors, and he is a honey. He was in Dallas Friday for Realtor University, which offers a master’s level degree to qualified Real Estate agents, kind of like an industry PhD program. Realtor University is committed to giving agent members life-long learning opportunities in their field. It’s the only institution of higher education focused exclusively on real estate, and it was founded in 2002. Speaking at lunch, Dr. Yun was as bright as the weekend weather forecast on his prognosis for Dallas and Texas.

Rest of the country, not so much. Rest of the world, ugh. (more…)