From a report from the Dallas Morning News, here’s the expected top markets for real estate in 2021. DFW is expected to be the #4 real estate market:
4. Dallas-Fort Worth
6. Tampa-St. Petersburg
7. Salt Lake City
8. Washington, D.C.
10. Long Island, N.Y.
Dallas Fort-Worth is expected to be #4 real estate market in the United States. Last year in 2020 it was ranked #5. Dallas Fort-Worth is a market to watch and it’s expected growth is exponential. You may have noticed many new houses and developments being built where there used to be a field, more cars and more congestion. This has been happening over the past several years and it’s not slowing down. Small towns aren’t small towns anymore and are becoming prosperous suburbs or “bedroom communities” for people whose jobs are in either Dallas or Fort Worth. There is affordable real estate here in DFW and with the influx of jobs and the emergence or remote work, Texas and especially DFW is becoming a booming metropolis.
DFW was ranked first two years ago in the poll. DFW has moved up from sixth to fourth place in the newest poll that asks real estate execs where will be the hottest places to buy and build in 2021.
The emphasis for next year is smaller urban markets—not mega coastal cities. Homebuyers will look for suburban locations with low taxes, affordable housing, auto-oriented transportation, and good job prospects.
More than half of the highest rated markets for 2021 were previously considered secondary cities for real estate. The impact of the COVID-19 pandemic has rebooted thinking about all types of properties.
“Covid-19 is accelerating suburban growth, especially in the Sunbelt markets,” researchers in the report say. “With a greater emphasis on health and safety, the need for lower density environments and more space has only grown. Remote work and higher taxes in large cities due to declining tourism and business tax revenue are contributing to the shift away from an urban core.
“Cost-conscious companies will gravitate toward cities that are business-friendly and low cost with large, growing workforces.” “In the near term, our suburbs will benefit from new growth spurred by shifting demographics and changes to living and working patterns resulting from the COVID crisis,” W. Ed Walter, Global CEO of Urban Land Institute, said in a statement. “Our cities will have the opportunity to respond by reimagining their public realm, building more resiliently, and reinventing assets, such as retail, that were already struggling before the pandemic.”
All this leads again to a higher ranking for Dallas Fort-Worth in real estate markets. DFW is expected to be the #4 in real estate market in 2021.
Beth Brake REALTOR®
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