According to Realtor.com’s newly released predications for 2018 there are two cities we should be watching – Las Vegas, and Dallas.
The report went on to say that the Dallas, Ft. Worth area should see about a 6 percent increase in home sales, and a 5.57 percent hike in median home prices – two numbers that are twice the national growth rate.
Much of this, according to Javier Vivas, director of economic research for Realtor.com is due to the expected rise in millennial homebuyers combined with increasingly affordable homes in the Dallas area.
As Vivas explained, “Millennials are a driving force in today’s housing market. They already dominate lower price home mortgage and are getting close to overtaking older generations for mid- and upper-tier mortgages.”
This is especially relevant given that just last year, Dallas was ranked 48th in home sales, and was estimated to see a 5.09 percent increase, with median home sales expected to grow at 4.13 percent.
Ranked as the 15th best place to live by U.S. News, Dallas’s appeal is not only its many cosmopolitan offerings, small town feel, and a booming economy, but also its family friendly suburbs that encourage community.
Beyond millennials, U.S. News ranks Dallas as the 11th best place to retire, due, in large part to its quality of life and housing affordability.
All of that, notes Vivas, makes Dallas a market to watch in 2018.
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