Housing Industry On A High Rise In Texas
The housing market in the state of Texas is doing amazingly well at this point of the year with national builders re-entering the market to establish and build new homes. The Dallas Ft. Worth area is being considered as the gold mine for these builders.
The recent increase in the population combined with rising job opportunities has made this city the top choice among national builders.
Executive Officer at Dallas Builders Association, Phil Crone, has claimed, “Obviously home builders are going to flock to where the population growth and, more specifically, job growth is. And the job growth is certainly as strong here in Dallas as it is anywhere in the country.”
If we look at the data from the U.S. Census Bureau, there are 8 cities among the 15 listed which belong to Texas. The topper in that list is San Marcos with a population growth of 4.9%. Fortunately, the town belongs to Texas and has now crossed the mark of 50,000.
Crone has also stated that the experts were expecting a 10% growth in Dallas market from last year (i.e. expecting 20,000 permits to last year’s 17,000 permits). However, the statistics turned around bit more and the numbers are ranging between 23,000-24,000 permits. According to builders, these statistics can go up as high as 20%.
The recession was also very light on the state of Texas and they recovered very quickly with all the housing developments going smooth. Crone is expecting the builders to get into their best form for establishing a healthy market by maintaining a 24-month supply of the available lots, which is right now at 17-month.
With the Dallas market growing so well, homebuilders claim the reason to be high-rise in economic and population growth. If you are also planning on buying homes in Dallas, then get your loan papers ready now and put your 4506-T forms on the fast track with us!