In a recent survey conducted by Metrostudy, the 4Q17 DFW housing market is pushing into a “New Affordable” Market.  As production in the $200-300k range is ramping up. Based on the survey, Metrostudy concluded the following:

  •         Dallas-Fort Worth remains the top new home market in the country, with quarterly starts up 16.9% YoY.Builders started 33,243 homes in 2017.
  •         We are seeing a jolt of starts between $200,000 and $300,000; an exciting development in DFW’s new home market which has suffered an extreme shortage of affordable, new homes since 2013.
  •         The median new home price rose slightly to $328,400, an annual increase of only 1.9%. The median resale price climbed 8.4%, further narrowing the difference between new and resales prices. Currently, the delta between the median resale and new home price is 32.3%.
  •         If developers deliver the large number of lots under construction and builders supply homes below $300,000, 2018 could be a banner year for DFW’s new home market

Metrostudy concludes, if developers deliver the large number of lots under construction and builders supply homes below $300,000, 2018 could be a banner year for DFW’s new home market.  Read the full article here.

 

Christie Cannon | REALTOR
The Cannon Team
Keller Williams Realty Frisco
469-951-9588
www.christiecannon.com