DFW #1 In Texas And U.S. In Residential Home Sales

Susy Solis
June 12, 2019 - 8:05 pm

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DALLAS (1080 KRLD) - Dallas' real estate market is still thriving and no surprise why. DFW was the #1 metropolitan area in population growth for the last six years, according to Dr. Jim Gaines, the Chief Economist at the Texas A&M Real Estate Center. 

Dallas-Fort Worth has added close to 130,000 people in population and it's the only market in the country that added more than 100,000 people in one metropolitan area. At the same time, DFW led the nation in job growth, adding more than 116,000 jobs in 2018 alone, according to data from the Bureau of Labor Statistics. New York and Houston followed closely behind, which added more than 115,000 jobs and 108,000 jobs, respectively. 

"When you're adding jobs and you're adding people, you're getting more people looking for a place to live," Gaines said. 

Demand is still strong and supply is still relatively short so housing prices will continue to rise, albeit a bit slower than in past years. 

"We anticipate on average an increase of 4%-5% but here will be a variation on that price increase over geography, county, neighborhood, subdivision, and type of house, but the tide is rising for just about all homes to go up," Dr. Gaines said. 

Gaines said the good news is the price increases won't be in the double digits as they have in past years. It looks like growth will continue as DFW is the 4th metropolitan sized market, but it is still far more affordable than other large markets like New York, Boston and Chicago.