Oct 18, 2013

Dallas Real Estate predictions for 2014

The 2014 Real Estate Forecast was held this morning with experts from across Texas giving the state of the current Texas market and predictions for 2014.

The overall consensus was:
  • The Texas economy and job rate growth is still ahead of the rest of the country and will continue to be.
  • The DFW population will continue to explode like it has over the past 40 years.
  • Mortgage requirements will return to traditional standards, however the rates will be higher.
  • Higher construction and labor costs will be reflected in higher housing costs.
  • In 2013-14, home prices in Dallas will be up about 9% from the previous year.
  • The housing shortage in Dallas will continue and may even get tighter in 2014.
If you're thinking about buying a home in Dallas, the time to do it is now - before inventory gets smaller and prices rise more.
[where: 75230]

1 comment:

Samantha said...

We've experienced housing shortages in some areas of Austin as well. With prices and mortgage rates predicted to rise, buyers on the fence need to start looking now. Good post!