The city is so large and sprawling that there is potential for really anything, and home buyers and companies alike aren’t wasting their time getting their own piece of this burgeoning community.
Fort Worth, TX (PRWEB) May 05, 2014
Looking to start a new career? North Texas may be the ideal place to set down roots for its prosperous job market, thriving housing market and low cost of living. Prudential Texas Properties reports that both Fort Worth and Dallas rank among the top 10 best new career cities.
Time Magazine recently ranked the best cities for new and recent graduates to move, but the magazine favored cities with a low unemployment rate, which is a favorable factor for people no matter age or career level. Fort Worth’s unemployment rate of 4.5 percent and Dallas’ rate of 4.3 percent propelled the cities into the top rankings.
Fort Worth in particular has been attracting new home owners with its incredibly low median single-family home values, burgeoning commercial and industrial real estate market and connectivity to other major hubs in North Texas.
“Fort Worth not only has a low unemployment rate, but it is somewhat of a blank slate in terms of development,” says DD Flynn, VP of Marketing at Prudential Texas Properties. “The city is so large and sprawling that there is potential for really anything, and home buyers and companies alike aren’t wasting their time getting their own piece of this burgeoning community.”
According to Altos Research, a California-based real estate analytics company, the median single-family home value has been on the rise in Fort Worth since the start of the year. As of April 18, the median value was marked at $158,387, up from $150,000 in January 2014.
Along with the rise in median value, the demand for homes in Fort Worth has been similarly upticking. Altos’ Market Action Index was marked at 37.59, showing that sellers are in the drivers seat here. To put it into perspective, Altos uses the value of 30 as the neutral mark between a buyer’s and seller’s market, and going back a year, the city saw demand shift below that mark only once in May 2013.
At the same rate, the amount of available inventory has risen in the week ending April 18 while the average days on market fell, showing the high demand isn’t due to dwindling inventory.
Click here for a 60-second Fort Worth home market update.
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