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Steve Young
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Steve Young
NVC Texas Triangle population to grow CRE fundamentals…
NVC: Texas Triangle population to grow, CRE fundamentals remain strong
Sep 9, 2022
CENTENNIAL, Colo. – According to a report by National Valuation Consultants Inc. (NVC), both a projected influx of new residents and a resilient economy will continue strengthening the Texas Triangle region.
NVC defines the Texas Triangle as a 30-mile-wide corridor stretching south from Denton along I-35 to San Antonio through Fort Worth and Austin, east to Houston along I-10, and back north on I-45 through Dallas.
This area is home to 66 percent of Texas’ population and accounts for 77 percent of the state’s total gross domestic product.
By 2030, the Texas Triangle’s population is expected to grow 19 percent to 20 million residents.
“Several factors make the Texas Triangle attractive,” said Joshua Roberson, lead data analyst for the Texas Real Estate Research Center. “Housing affordability is a big draw, particularly for households from coastal states. Additionally, Texas has a very business-friendly environment that attracts a lot of potential job-seekers.”
Multifamily demand more than doubled in 2021 compared with pre-pandemic levels. Apartment rents grew 15.6 percent year over year in the Texas Triangle, according to NVC.
“Texas experienced a major population boom during the pandemic,” Roberson said. “This, combined with low mortgage rates and low housing supply, resulted in an acute price surge in both rents and purchase prices. Now that rates are increasing and population growth is likely moderating, home price and rent growth will likely slow down as well.”
Texas Triangle commercial real estate trends NVC reported for 2021 include:
- 57.2 million sf of industrial space added,
- 89.5 million sf of industrial absorption,
- 8.2 million sf of retail space added, and
- 2.5 million sf of office absorption, returning positive after being negative in 2020.
These demographic and commercial real estate trends were seen in other regions of Texas, though not at the same magnitude.
“While the major metros gain most of the media attention, many smaller metros have also displayed similar demographic patterns,” said Roberson. “There has been a lot of growth, particularly among the key young family millennial households, in metros such as Lubbock, Tyler, and Waco, just to name a few.
“I think a lot of it has to do with housing affordability, but other factors such as family proximity and quality of life may play a factor as well.”
The Texas Real Estate Research Center has a wealth of economic information online for free.- Texas employment data
- Outlook for the Texas Economy
- Texas Employment Report
- Texas Real Estate Research Center research library
- Texas Quarterly Commercial Report
- Texas Quarterly Apartment Report
Source: Austin Business Journal
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Steve Young
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Steve Young
6 Texas cities among best real estate markets in 2022
Aug 30, 2022
WASHINGTON – The Lone Star State—specifically North Texas—dominated WalletHub’s list of the best places to buy a house in 2022.
Six Texas cities were in the top ten, and five of them were in Dallas-Fort Worth-Arlington.
“DFW still remains more affordable to buyers than other large metros in the U.S.—particularly those on the coasts,” said Dr. Clare Losey, Texas Real Estate Research Center assistant research economist. “Moreover, DFW is one of the fastest growing regions in the U.S., leading to strong demand for homeownership. A component of that population growth is corporate relocations to DFW.”
Frisco ranked first overall, leading in both the real estate market and affordability and economic environment metrics.
Other Texas cities in the top ten were:
- No. 2 Allen, second in real estate market and third in affordability and economic environment;
- No. 3 McKinney, third in real estate market and second in affordability and economic environment;
- No 4 Austin, fourth in real estate market and 46th in affordability and economic environment;
- No. 8 Denton, tenth in real estate market and 15th in affordability and economic environment; and
- No. 10 Richardson, 13th in real estate market and 13th in affordability and economic environment.
Three other North Texas cities—No. 11 Fort Worth, No. 17 Carrollton, and No. 19 Plano—landed in the top 20.
While North Texas remains competitive, affordability issues persist.
“A limited supply of homes amid strong demand for homeownership challenges North Texas housing markets,” Losey said. “While the supply of homes has increased slightly over the past several months, which is largely attributable to higher mortgage interest rates, it still remains insufficient to meet the demand for homeownership, thereby inducing upward pressure on prices.
“Putting more supply on the ground—especially lower-priced homes affordable to first-time buyers—will be critical to easing affordability constraints.”
The rest of WalletHub’s top ten cities were No. 5 Nashville, Tenn.; No. 6 Cary, N.C.; and No. 9 Peoria, Ariz.
To determine the rankings, WalletHub compared 300 cities across two key dimensions using 17 metrics.
Last year, five Texas cities landed in WalletHub’s top ten.
The Texas Real Estate Research Center has a wealth of economic information online for free.Source: WalletHub
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Steve Young
I’ve Got the BEST for You!
So many loan options, so little time. Ok, maybe that’s not entirely true, but there is a lot to know about loans and it can all get confusing! Unless you’re a loan-know-it-all, and you’re in luck, because that’s exactly what my contacts are! So let’s talk and I can connect you with the right people to guide you through this tricky time. #thehelpfulagent #home #houseexpert #house #listreports #icanhelp #themoreyouknow #realestateagent #realtor #realestate #finances #smartmoney -
Steve Young
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Steve Young
Good Practice Regarding Your Mortgage…
Want to find out how to build more equity for your home. Message me to find out! #thehelpfulagent #home #houseexpert #house #listreports #homeowner #househunting #themoreyouknow #icanhelp #realestateagent #realestate #realtor #happyhome -
Steve Young
Not Very Smart to go by These…
There is no shortage of online tools that will help you calculate the value of your home. But it’s important to keep in mind that pricing your home is more complicated than an online tool can calculate. These online home values are just estimates, if you’re looking for the hard facts I recommend reaching out to a real estate professional – reach out to me 😉 #thehelpfulagent #home #houseexpert #house #listreports #homeowner #icanhelp #realestate #realestateagent #realtor #themoreyouknow #forsale 
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Steve Young
Get the Most Out of Your Upgrades/Updates
Your home is one of the biggest investments you’ll make in your lifetime, so you want to make sure you’re making smart improvements over time. Not all home projects are created equal, these are some that provide the highest ROI. #thehelpfulagent #home #houseexpert #house #listreports #homeowner #happyhome #dreamhome #themoreyouknow #icanhelp #realestate #realestateagent #hometips #homestyle #homereno -
Steve Young
Stevesellsdfw's Blog 
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