North Texas Economy is One of Fastest-Growing in Nation
Dallas, TX (PRWEB) July 01, 2014 -- For the past few months, the Dallas-Fort Worth housing market has topped numerous lists and been recognized for surpassing national standards. Population growth is through the roof and companies from throughout the nation are making the move to North Texas. Prudential Texas Properties reports these positive trends continue to show why Dallas-Fort Worth real estate is as hot as ever to get into.
According to the U.S. Metro Economies report, the Dallas-Fort Worth-Arlington region ranks No. 6 in the nation for its booming economy. In 2013, the North Texas economy grew to $440.1 billion, marked by major highway expansions, mixed-use development projects, an explosive housing market and more.
“Not only is Dallas-Fort Worth one of the top performing metro areas in the nation, it’s surpassing international growth as well,” says DD Flynn, VP of Marketing at Prudential Texas Properties. “The real estate market shows no signs of slowing down, and people throughout the world are trying to get their hand in the local economy.”
Since the start of the year, the real estate market in Fort Worth has experienced explosive growth, according to Altos Research, a California-based real estate analytics company. The median single-family home value in Fort Worth has increased from less than $152,000 in January to more than $167,400 as of June 20. This weighted 90-day average has seen virtually no downward trends, showing that the market is consistently strong.
At the same time, the amount of available properties in Fort Worth is on the rise. There are about 2,218 homes available here and this figure is moving upwards. With the market very much in the hands of sellers, current Fort Worth home owners may be noticing that they can really benefit from getting into the housing market now.
Click here for a 60-second Fort Worth real estate update.
©2014 BRER Affiliates LLC. An independently owned and operated broker member of BRER Affiliates, LLC. Prudential, the Prudential logo and the Rock symbol are registered service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Used under license with no other affiliation with Prudential. Prudential Texas Properties is an independently owned and operated member of BRER Affiliates LLC. Equal Housing Opportunity.
Kim Manning, TRIBUS, +1 (877)894-2824 Ext: 3001, [email protected]
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