DFW has had tremendous growth for the rest of the county's recessionary woes. The information I am going to provide you from a 2012 Economic Forecast meeting hosted by Metro Study and the data they collected for since 2008 will help us to understand what to expect on a Local level and in our metroplex. Here are some interesting facts to start off the analysis:
- Dallas Fort Worth absorbed 15,240 apartments during 2011
- Occupancy in DFW rents rose to 93% during 2011, up 2% this year
- Average rent in DFW rose 5%. High Demand locations saw rent increases as much as 10%
- 5,417 units were delivered during 2011. Approximately 8,000 units are currently under construction.
According to the DFW Multiple Listing Service thru December 2011 here are some stats for our metroplex:
YTD Sales: 64,249
Average Price: $196,862
Median Price: $147,000
Inventory: 27,058
DOM: 90
Months Supply: 5.1
Consumer confidence and Job growth are huge indicators of the Economic Forecast for Dallas and most cities. Texas is #2 in the nation for Job Growth as of November 2011 with a 2.2% increase totaling 227,800 jobs created. I am glad to say that Janus Real Estate Group contributed 4 new positions in 2011 and we are proud to be a part of that number :) And on a more micro level, Dallas Fort Worth was #2 in as a Top Job Growth Market behind Houston taking the #1 spot. Two of Texas' largest cities take spots 1 and 2. It is no wonder why our Texas economy is still so strong--Jobs, land and lower cost of living. Dallas Fort Worth should see a rise in Multi Family construction, more starts pulled at the city level and all around Real Estate recovery in 2012. We still have quite a bit of a journey to go as a Nation and as a State and local metroplex, but we are in the greatest place to invest in the county with a strong economy and growth opportunities to come our way.
For more information on the Economic Forecast for Dallas Fort Woth and how Collin County will on the rise, please click HERE to request a copy of the presentation
For more information on Collin County Real Estate click HERE
Heather Anderson - 2012 Dallas Fort Worth Economic Forecast - 214.317.1964 c/t
www.janusREgroup.com - heather.anderson@janusREgroup.com
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