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North Texas Leading the U.S. in Housing Growth
Housing growth continues to boom around North Texas, and according to a recent report, the area is leading the U.S. with new home starts. For Plano home shoppers who have been dealing with a lack of inventory, this is exceptional news.
Adding more Plano homes will undoubtedly help with some of the supply and demand issues that have been a thorn in the side of buyers for months. While the issue won't be solved overnight, the uptick in available inventory will help stabilize the market.
According to a recent report by MPF Research, North Texas is putting up multi-family developments quicker than any other state in the country. Rents are rising about 3%, and the entire area reached an annual leasing record during the month of June. MPF Research believes that the burgeoning apartment sector is to thank for the rapidly expanding business environment around North Texas.
Adds Jay Parsons with MPF, “They clearly reflect the strength of the local economy. Dallas-Fort Worth isn’t just adding a lot of jobs, it’s adding the types of jobs that draw the key demographic for the apartment market — educated young adults.”
While the apartment sector is no doubt sizzling, Dallas-Fort Worth area home builders ... more
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