Steve Brown Email email@example.com
Published: December 9, 2014 10:48 am
Trulia has ranked Dallas as one of the top U.S. housing markets for next year.
With North Texas home prices up 12 percent from a year ago and sales at an all-time high, it’s no surprise Big D is landing on the lists of the top housing markets for 2015.
Trulia Inc. just gave Dallas a spot on its list of the 10 top residential markets for next year.
Dallas is the only Texas city on Trulia’s forecast.
“Our 10 markets to watch have strong fundamentals for housing activity,” said Trulia economist Jed Kolko. “These include solid job growth, which fuels housing demand, and a low vacancy rate, which spurs construction.
“We gave a few extra points to markets with a higher share of millennials,” he said. “These young adults are getting back to work and that will drive household formation and rental demand.”
Realtor.com also has Dallas on its top 10 housing market list for next year.
Economist Jonathan Smoke with Realtor.com predicts that Dallas-Fort Worth will lead the country in new household formation during the next five years.
He’s forecasting a 10 percent increase in D-FW home sales next year.
“It’s on pace to set a new employment record in 2014, and is forecasted for 3 percent growth in 2015, well above the U.S. average,” Smoke told CNN/Money.
North Texas home sales are basically unchanged this year from 2013 levels due to tight supplies of properties on the market.
But median home sales prices have risen 7 percent so far this year and 12 percent in November for the same month in 2013.