Dallas-Fort Worth

Illustration courtesy Flickr

Dallas-Fort Worth is at the top of a list ranking the best cities for science, technology, engineering, and math jobs, the new home market is percolating in DFW, and we find out where North Texas falls in a look at underwater mortgages and home equity, all in this week’s roundup of real estate news.

Dallas-Fort Worth Tops List of Best Cities for STEM Jobs

Dallas-Fort Worth took the top spot nationally in a ranking of best cities for STEM jobs, AEI Housing Center announced last week. (more…)

new buyers

While the housing market might be lightly tapping the brakes as of late, a new report found that a wave of new buyers is coming — although how robustly they arrive will vary from city to city.

While there was an impressive wave of first-time home buyers over the last decade, Zillow did the math and found that in the next 10 years, an extra 3.11 million people will be at that prime first-time buyer age — 34.

“From 2019 through 2028, 44.9 million people will turn 34, the median age of current first-time home buyers,” Zillow said. “That’s an increase of 7.4 percent from the past 10 years, when 41.8 million people passed that threshold.”

Now, sure, not all of these prospective new buyers will actually be clamoring to buy homes when they hit their mid-thirties, that huge influx in potential buyers will definitely have an impact on the market.  The largest three-year generational group in the U.S. right now is only 24 to 26 years old — which means that the increased strength of their potential buying power has not been realized yet.

In Dallas-Fort Worth, it’s estimated the metro area will see about a 3.1 percent increase in potential homebuyers in that age range. Other major metros in Texas will also see increases — Austin and San Antonio well each see an estimated 14.2 percent increase, while Houston will see a 6.1 percent increase. (more…)

migration

Photo courtesy Wikimedia Commons

How many people are coming — and leaving — Dallas County? Has there been a local shift to more affordable new homes? What local journalist has been tapped to be a keynote speaker at a financial services conference?

We have all this in this week’s roundup of real estate news.

Dallas County Posts Some of the Highest In-and-Out Migration Numbers

Texas has the second-highest domestic in-and-out migration in the country — and Dallas County and Harris County have some of the biggest influxes of new residents, new U.S. Census data revealed last week.

The 2017 American Community Survey revealed that Dallas and Harris counties had some of the highest inbound migration numbers, with 117,129 moving to Dallas County and 175,286 moving to Harris County. (more…)

housing

Illustration courtesy Photofox

Rents and home prices continue to rise (even with a slight cooling), and much like salaries across the country, the salaries of teachers in Dallas-Fort Worth have not kept pace with those rising housing costs, a new analysis by Apartment List revealed.

In DFW, almost 24 percent of primary-earner teachers were burdened by the cost of their housing — the teacher cost burden rate was 48.1 percent higher than the rate for households where the primary earner was a college-educated non-teacher. The median income of teachers in the area is 30.7 percent less than the median income of full-time non-teachers with similar education. (more…)

business

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From staff reports

Thanks to the Internet, you can start a business just about anywhere, but 20 cities are better for budding entrepreneurs — and Dallas-Fort Worth appears there, WalletHub said this week.

Fort Worth ranked 11th on the list of 100, while Dallas and Irving were 15th and 17th, respectively. Three more North Texas cities made the 100-city total list: Arlington ranked 31st, Plano was 68th, and Garland 76th. (more…)

Apartment

(Photo courtesy Flickr)

Apartment rents in Dallas have increased slightly, but the city is still a relative bargain compared to other spots in North Texas, a recent analysis revealed.

Rents in Dallas have increased 0.5 percent from April to May, and are up 1.6 percent year-over-year, Apartment List said in its May rent report. The median two-bedroom rent is $1,120, a relative bargain compared to the many spots in Dallas-Fort Worth.

For instance, Grand Prairie has had a year-over-year increase of 3.1 percent, with a two-bedroom having a median rent of $1,260, and one-bedrooms going for $1,010. Plano’s median rent for a two-bedroom apartment was $1,440, up 0.3 percent over the past month and 2 percent year-over-year.

Statewide, rents increased 1.5 percent year-over-year, growing 3.5 percent in Austin, 2.4 percent in San Antonio, and 0.1 percent in Houston.

Apartment locating service Abodo gave nationwide context using data pulled from searches of apartments listed on its site, finding that nationally, one bedroom rents have increased 3.77 percent year-over-year, moving from a January median of $1,035 to $1,074 in May. From April to May, rents on one-bedroom units rose 1.06 percent.

However, the service found that rents on the once-hot two bedroom market had actually slowed a bit, with the median national rents decreasing from $1,239 in April to $1,325 in May, with a yearly increase of 4.08 percent.

To see the full Abodo report, click here. To see Apartment List’s, click here.

zip code

Illustration courtesy PxHere

From staff reports

If you want to sell your house in less than a week, you might want to live in the zip codes for Euless, Lancaster, Irving, or Balch Springs, new data from iBuying start-up OpenDoor revealed.

The hottest zip codes were gleaned from data from the first three months of 2019 and have given the real estate company a good indication of the areas they think will be most attractive to buyers this summer. (more…)

Fort WorthVista Bank named a new president for its Fort Worth market, Cushman and Wakefield announced a new hire, and Governor Greg Abbott named a new chair of the Texas Real Estate Commission.

Grant James

The 107-year-old Vista Bank announced last week that it had hired Fort Worth banking veteran Grant James to head its market there, where he will serve as president.

James has 40 years of industry experience and is a graduate of TCU. His role will include leading a team of bankers there, growing market share through retail and commercial business development, and establishing brand awareness.

“Vista Bank has been focused on growing our presence in the thriving city of Fort Worth over the past several years,” noted Vista Bank President and CEO, John D. Steinmetz. “An experienced and well-respected banker in the Fort Worth community, Grant James is a strategic addition to our leadership team and we are excited to have him.”

James will office at Vista’s Fort Worth location, 1300 Summit Ave.

“As my banking career has progressed over the last 40 years, I’ve become a firm believer in the community banking model,” noted James. “Even in our busy world, each of us has a desire for some degree of personalized attention – in a word, ‘hospitality.’ By delivering traditional banking services with a focus on hospitality, we intend to create unique experiences that clients will feel compelled to share with friends and family.” (more…)