While Trulia consider’s Dallas to be overvalued, Local Market Monitor‘s report says that the Dallas-Irving-Plano market is actually under-priced in the neighborhood of 12 percent.
That’s interesting news from these economic analysts. Local Market Monitor is predicting that home prices will grow 9 percent over the next 12 months, but will top out at 10 percent total growth for 2015 and beyond. Still, the firm considers our fair burg to be “low risk” for investment, and a strong rental market, too. That’s good news for all of the multifamily projects slated to come on line this year.
Economic growth has been strong since the recession. Growth was strong in the past year, with good job gains in almost all sectors, including the important finance sector (banking). Unemployment is below average. Expect strong growth the next few years.
There have been small waves of home price increases in response to surges of in-migration in the past. Prices were higher in the past year. Population growth continues high, with high in-migration. Home prices are high. There is a large renter population. Expect a strong housing market the next few years.
How does that wash with your predictions for 2014? Will job growth in Dallas-Plano-Irving continue to top the national average, fueling greater price growth? Or will prices stabilize, and investors find more niches in transitioning neighborhoods?
Tell us your thoughts!
