Post offices, which Open Door is focusing on, are seeing active construction of new homes, which is a bright spot for residential real estate amid rising interest rates.
Dallas — Read this article and other North Texas business news from our Dallas Business Journal partners
Three zip codes in North Texas rank among the most active in the nation for homebuying activity, led by zip codes on the east side of the metroplex, according to an Opendoor analysis.
Forney's 75126 ZIP ranked No. 6 in the Opendoor analysis, which tracks the number of homes that go under contract within 90 days of listing in 2023. Opendoor, a residential real estate company that pioneered the iBuyer model of online home transactions, is a multi-listing service in the brokerage-operated marketplace.
Although Opendoor does not publish the data behind its rankings, the list is a useful barometer of home buying sentiment.
Post offices, which Open Door is focusing on, are seeing active construction of new homes, which is a bright spot for residential real estate amid rising interest rates.
The 75126 ZIP is home to growing neighborhoods like Overland Grove, Fox Hollow, and Travis Ranch. In fact, it dropped one place from its 2022 ranking.
Forney has been one of the hottest housing markets in the metroplex in recent years. The population is estimated to reach around 32,000 by mid-2022, an increase of nearly 37% from 2020, according to U.S. Census Bureau data. And Forney is located in Kaufman County, the fastest growing county in North Texas. Relatively affordable prices have attracted many buyers to this corner of the metroplex. According to Redfin, the median home price in Forney is $352,000, while the median home price in Dallas is $440,000.
Two other post offices in North Texas also made the 2023 Opendoor Top 25. 76227 in Denton County ranked seventh, up from 13th last year, and 76179 in far northwest Fort Worth ranked 10th.
Texas dominated the top 10 with seven most popular ZIPs, including Houston-area communities Cypress and Katy at No. 1 and No. 2.
The top neighborhoods reflect buyers' desire to live in areas with convenient amenities rather than in large cities, a trend Opendoor saw in its 2022 analysis. Price remains a top priority, and home buyers and sellers still believe they are operating in a competitive housing market where home prices are too high.
Jackson Upcheshaw, head of brokerage at Opendoor, said in a statement that the ranked North Texas ZIP codes “allow homeowners to escape the hustle and bustle of big cities and have most of what they need, including a good price. This reflects their preference for cities that have a variety of facilities.”
Upcheshaw said turnkey homes in these areas are also attractive to price-conscious buyers, especially with mortgage rates near multi-decade highs.
