Thursday, March 09, 2017

Home Prices In Dallas Are Projected To Soar 31 Percent By 2020

Dallas is the best market to invest in housing in 2017, according to a list Forbes published this month. By 2020, home prices in Dallas are expected to grow by 31 percent, the highest growth of any city listed. That projection is based on Dallas' 6.2 percent population growth in three years (2012-2015), 3.9 percent job gains last year and 9 percent annual home price gains. "Homes in Dallas are also undervalued compared historic averages and local income,” according to Forbes. Dallas has an average home price of $233,000, which is up 3.9 percent from a year ago and about $35,000 less than the national average.
Climbing five spots from last year’s list, Dallas ranks No. 1 among 20 markets (cities with populations no less than 500,000 people). The Forbes study conducted with Local Market Monitor began with 330 markets that were narrowed down by performance across five metrics: annual job growth, three-year population growth, annual home price growth, affordability and Local Market Monitor’s own three-year home price forecast, which Forbes used to rank the list in 2016. Texas not only holds the top spot on the 2017 list but the second most spots overall, with Forth Worth at No. 9 and San Antonio at 20. 

See Full Article Here

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