Two cities in the Dallas area are rated as some of the best real estate markets in the country. And four of the top six real estate markets in the U.S. are in North Texas, according to a study just released by WalletHub.
McKinney and Frisco took the top spot. Best Real Estate Markets of 2023 report. In the annual national poll, Denton ranked fourth and Allen ranked sixth.
Austin ranks No. 8 on WalletHub's Top 10 Markets list, with Texas cities accounting for half of the rankings.
The study looked at 300 U.S. cities and assessed the real estate market for housing attractiveness based on factors such as home price growth, underwater mortgage rates, foreclosure rates, home affordability, population growth rates, and unemployment rates. evaluated.
It's no surprise that three of Collin County's fastest growing cities are at the top of real estate rankings.
According to WalletHub, Fort Worth ranked 22nd on the national list, Plano 24th, Richardson 28th, Irving 36th and Dallas 43rd in the U.S. real estate market.
Fast-growing cities performed well in the home buying rankings.
“We advise buyers to pay more attention to job growth and unemployment rates within metropolitan areas,” Kelly Snyder, a professor at San Jose State University, said in the report. “In most regions of the country, small and medium-sized employers are hiring and continue to grow. This means the local economy is strong and the local market is stable.”
Dallas-Fort Worth is one of the nation's strongest metropolitan areas for population and employment growth.
Real estate prices in the area are calming down after several years of soaring prices. In the latest survey, home prices in the Washington, D-FW area fell 1% year over year.
“The crash isn't coming and it's too expensive to grow anything too quickly. What we're seeing is that the exorbitant price increases are stabilizing and the overall housing market is becoming less volatile and more predictable,” Snyder said. “This is good for the economy, and it's good for employers who want a stable workforce. Rehousing is very good for the long-term stability of the United States.”
