dallas February 5, 2020
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Story 1: Dallas Home Buyers are Still Paying Above List!
Summary – 26% of Dallas Home buyers are paying more than the list price despite the real estate slowdown. The primary cause being fierce competition over the limited affordable housing options on the market as prices are at an all-time high
Source Link – https://www.dallasnews.com/business/real-estate/2019/09/12/more-than-a-quarter-of-dallas-area-homebuyers-pay-more-than-asking-price/

Story 2: New Home Starts Drop As Oversupply Cuts Into Builders Margins
Summary – New build starts at down 40% in August compared to the same month last year. As a whole, 2019 has seen 18% less new starts compared to 2018.
Source Link – https://newstral.com/en/article/en/1136547794/residential-building-starts-fall-sharply-but-north-texas-homebuilders-not-seeing-it

Story 3: Over Supply of Multifamily May Be Less of a Concern Then Once Thought.
Summary – The D-FW saw 10,049 net apartment leases within the third quarter, 15% higher than the same quarter last year.
A continued growth in rents of 2% a year and a phenomenal 95.5% occupancy rate means that although the increase in available units will affect occupancy, strong job growth in the region is expected to create a demand for new multi-family assets.
Source Link – https://www.dallasnews.com/business/real-estate/2019/10/01/d-fw-apartment-leasing-soars-as-construction-boom-continues/

Story 4: Whispers of Corruption Surround Plans For a Soccer Field Under One of Dallas’ Busiest Highways
Summary – Royce West, a senator who has opposed the proposal to remove I-345, and his son have been working with the department of transportation to build a soccer field underneath the freeway raising concerns over weather the West’s profiting from government contracts.
Source Link – https://texasscorecard.com/metroplex/dubious-dallas-project-connected-to-state-senators-son/

Story 5: Dallas is a Top City for Tech Workers!
Summary – A new study compared 200 cities in the U.S. based on average income for tech workers, livability, and cost of living; found that Dallas ranked 2nd in the country for tech workers! The average home price in the San Francisco Bay Area is million which is unattainable even for high paid tech workers. Meanwhile Dallas’ median home price was around 9,950.
Source Link – http://dallas.culturemap.com/news/real-estate/09-24-19-dallas-top-affordable-city-tech-workers-realtor-com/

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