North Texas Hot Housing Market 2018

Dated: 06/22/2018

Views: 114

North Texas’ hot housing market won’t cool in 2018, according to a new forecast.

The Dallas-Fort Worth area is expected to be one of the top home markets in the country next year, according Realtor.com’s just-released projections. Only Las Vegas will have a stronger home market in 2018, the report predicts.

The D-FW area is forecast to see about a 6 percent increase in home sales and a 5.57 percent hike in median home prices in the year ahead. That’s twice the national growth rate for sales and prices, according to Realtor.com

In Realtor.com’s  2017  forecast, the D-FW market was ranked 48th with home sales estimated to see a 5.09 percent increase and median home prices predicted to grow at 4.13 percent.

Rising home inventories in many U.S. markets will enable home sales to grow.

“Inventory increases will be felt in higher priced segments after spring home buying season, which we expect to take hold and begin to provide relief for buyers and drive sales growth in 2019 and beyond,” Javier Vivas, director of economic research for Realtor.com, said in the report.

Next year is likely to see a rise in millennial homebuyers who will account for more than 40 percent of new mortgages.

“Millennials are a driving force in today’s housing market,” Vivas said. “They already dominate lower price home mortgage and are getting close to overtaking older generations for mid- and upper-tier mortgages.”

Realtor.com says the biggest uncertainty for next year’s housing picture is the current federal tax code overhaul, which could reduce incentives for homeownership and raise taxes for some homebuyers.

Want to Advertise on this Site?

Latest Blog Posts

DID YOU KNOW ALLEN

The City of Allen incorporated in 1953 and has experienced many growth spurts over the last 60 years bringing the population from as low as 400 to its current inhabitants of close to 86,000. 

Read More

Sweetstop Richardson

A new Pastry Shop is now open at 201 S. Greenville Ave., Ste. 10, Richardson!A new place to satisfy your sweet tooth!https://communityimpact.com/dallas-fort-worth/richardson/impacts/2020/08/06/new

Read More

Just Sold 700 Rio Concho

4 Beds | 3.5 Baths | 3,083 Sq.Ft✨SOLD✨MASSIVE CULDESAC LOT IN TRINITY FALLS! This original-owner home shows pride of ownership in every nook & cranny. Professional office immediately upon entry

Read More

Testimonial Thursday

Thank you for your kind words! We are so excited to welcome you to Frisco! It doesn't stop here. Our team is here for whatever needs you have!#testimonialthursday #blessed #yourfavoriteagent

Read More