The strong economy across North Texas continues to bring growth to our area. Corporations are moving to Texas – 219 from California alone in the past seven years reports the Dallas Morning News. And many of these headquarters have chosen to call DFW home, thanks to strong home values and a welcoming business environment.
As a result, North Texas leads the nation in home price gains, up 11 percent in 2015, say analysts at CoreLogic Inc. Those gains are twice the 10-year average home price increase in DFW.
“In 2016, we expect to see economic expansion continue across our area,” says Robbie Briggs, President and CEO of Briggs Freeman Sotheby’s International Realty. “But it will continue at a slower rate that demonstrates healthy growth.”
What’s not slowing down is the rate in which homes are selling. In 2014 the average days on market was 63. In 2015, the number shrank to 44. Homes, especially those that are well kept and are located in established neighborhoods, are selling quickly.
Economic expansion throughout North Texas has lasted 78 months, according to the National Bureau of Economic Research. Much of the growth is due to interest from foreign money looking for bigger gains through U.S. investments. With challenges throughout international markets, investors from Europe, Japan, China and Mexico are looking for a smart place to park their money, and they, too, are choosing North Texas.
“We expect 2016 to be a year of steady, healthy growth across DFW,” says Briggs. “It’s a great time to live, work and play in DFW.”
Learn more about the Park Cities area. Visit the Best Neighborhoods Site.
For more luxury homes throughout North Texas, see briggsfreeman.com. President and CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with offices in Dallas, Fort Worth, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.