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.
[where: 75230]
1 comment:
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!
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