Housing Demand Remains Strong in Texas, Despite Construction Slow

By Jeff Cheney | On

It’s been awhile since we’ve checked in on the Texas housing market, and we are happy to report it is still booming. Just as we’ve noted in the past, Texas’ housing market continues to thrive and is doing better than the majority of the nation. A recent report from the Real Estate Center at Texas A&M University indicates that while new construction has slowed due to a shortage of labor and lots, the housing market has not felt any kind of repercussions. As the Texas economy continues to grow and draw in new residents, the state’s real estate industry is experiencing continued growth, which is good news for those looking to both buy and sell in the area. Furthermore, Texas real estate came out on top in all areas of the housing market in 2015, due once again to continued growth within the state’s economy, jobs, and population.

With more and more people relocating to Texas from across the country – and world – we are seeing homes within all price classes in high demand. This may come as a surprise to some, as new construction has slowed and inventory is low in many parts of the state, specifically Austin and Houston. However, this is excellent news for those looking to sell their home in Frisco or elsewhere in North Texas, as people are selling their homes faster than ever. As Frisco’s leading real estate team, we are here to help you find the home of your dreams, and at the right price. Buying a home in Texas is a hot commodity right now, and you will need the right Realtor by your side in order to ensure your transaction goes off without a hitch. On the other side, if you are looking to sell your Frisco home, we can help you do so quickly and efficiently.

Housing Sales Continue, With No Sign of Slowing Down

According to chief economist and co-author of Texas Housing Insight, Dr. James Gaines, housing sales in Texas recently passed January 2007 levels, which is a huge feat. The growth rate of Texas home sales is still ahead of the rest of the country, with four of the five major metro areas reporting home sale increases. With low mortgage interest rates, we do not expect this to change any time soon. As briefly mentioned above, the number of days an existing home that is up for sale is on the market is lower than average. In the Dallas area, new homes also have shorter sale periods, which once again speaks to the high demand for homes in our part of the state. These trends are in large part attributes to employment growth and a strong services sector throughout the Dallas-Fort Worth area.

Buying a House? Let The Cheney Group Help

If you are considering buying a home in Frisco or one of the surrounding communities, look no further than The Cheney Group. Our knowledgeable, friendly, and determined team of Realtors have what it takes to help you find the home of your dreams, and fast. With the economy continuing to thrive and more and more businesses moving into the area, we expect these housing market trends to continue. The Cheney Group has homes in many of the area’s best neighborhoods, including Wade Park, Phillips Creek Ranch, and Newman Village, to name a few. To learn more about the homes for sale in Frisco, Plano, McKinney, and elsewhere in North Texas, please do not hesitate to give us a call today. We are here for all your Frisco real estate needs!