Housing market statistics show many affordable properties available in Dallas
The Dallas housing market, like many others in the United States, has experienced its ups and downs. However, those who are looking at some of the homes for sale in Dallas may want to make their selections soon, as the market appears to be heating up.
Recent statistics reflect increasing interest in the city's properties. According to The Dallas Morning News, a major consumer financial services company recently included Dallas on its list of the top U.S. cities in terms of home affordability. In fact, the firm found that the median household income in Dallas is 7 percent greater than the income required to buy a median-priced house in the city.
The value of living in Dallas
Dallas is a booming metro, and its economic growth has been reflected in its current housing market.
The inventory of properties has been falling in Dallas due to increasing interest in the city. However, FOX 4 Dallas notes that new residential construction projects are cropping up across the area, and these could boost the region's economy.
A spokesperson with a luxury homebuilder said that his company intends to invest in Dallas construction projects. Additionally, this firm plans to hire new workers to complete these homes, and has already re-hired 500 of its former employees to finish projects throughout the United States.
"We're not overhiring," a representative with the luxury homebuilder told the news source. "We're still at a sort of as-needed basis, which I think is very smart, considering what we've been through."
Local residents can contribute to the economy if new jobs become available in the construction industry. The U.S. Bureau of Labor Statistics reports that Dallas area saw construction employment increase between June 2012 and July 2012, which is a positive sign for workers.
Meanwhile, the Dallas area has seen gains in other job sectors, including mining, logging and transportation. New employment opportunities could attract more people to homes in the area, which could increase the value of properties and drive interest in this region. The effects could be substantial, as more businesses and residents may soon call Dallas home.
A wide variety of homes are currently available for people who seek residences in Dallas. There are also several fixed-term mortgage options that homebuyers can pursue at historically low interest rates, which could help newcomers obtain houses in this city.