We have talked a lot over the last year about how Texas’ growing economy and thriving job market has impacted the housing market. While many areas in the United States are dealing with a struggling economy and, in turn, mediocre housing market, Texas is experiencing the opposite problem. Over the last several years construction – both residential and business – has been at an all-time high. It seems that it’s the only thing area builders can do to keep up with the demand for new housing throughout Frisco, Plano, and elsewhere in North Texas. As we continue to see huge developments like Celina’s Light Farms, Legacy West, Craig Ranch, and Frisco Station near the Dallas Cowboys’ new headquarters continue to add residential and business options, this is shaping up to be another record year for home buyers and sellers alike.
The Migration to Texas
Since 2014 we have seen an influx of big businesses moving their headquarters to the Dallas/Fort Worth area, including Plano and Frisco. This is due in large part to North Texas’, in particular, booming economy and the affordable cost of living. Combine these two factors and you have an unbeatable situation, and one that is making North Texas one of the hottest spots in the country for buying and selling a house. Among the most recognizable corporations that have planted their roots in our area are Toyota, State Farm, American Airlines, and JPMorgan Chase. As you can imagine, with these companies moving to the DFW areas comes their employees and their families, too. However, that’s not the only reason people from all over the country are making the move to Texas. For one, Texas has lower tax rates than most parts of the country and, as mentioned above, an impressively low cost of living. This is particularly appealing to those moving from areas of the country where housing prices are through the roof – such as California, New York, and even Colorado.
How This Affects Those Selling a Home
So, what does all this mean for those looking to sell their Frisco home? While builders struggle to keep up with the demand, people interested in selling their North Texas home are in luck. In fact, many – especially corporate transplants – are interested in “move-in ready” homes, making it a hot market for those looking for a quick sale. It is important to keep in mind that there is a lot that goes into selling a home, even in an area with as hot a market as here. This is why it is crucial that you enlist the services of a knowledgeable Frisco Realtor.
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How This Affects Those Buying a Home
Because the real estate market is so hot right now in North Texas, the competition for finding the perfect home to buy is extremely tough. As home values continue to climb and interest rates remain low, we are seeing homes fly off the market at an alarming rate. With this in mind, it is more important than ever to have an experienced home buyer’s agent by your side. Here at The Cheney Group, we understand the housing market in the area and can get you into a home to look at before it even hits the market. People are quickly finding that the only way to truly end up with the right home in North Texas right now is with the help of Realtor that knows the market and has the inside scoop. To avoid paying too much or missing out on the home of your dreams, we encourage you to contact The Cheney Group today and let us help you find the right home for you and your family.
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