The Dallas-Fort Worth area is said to have the hottest housing market of 2015 and, as a result, more and more people are moving in. The market’s current favorable economy doesn’t hurt, either.
The Dallas-Fort Worth market is a Texas-sized opportunity for many homebuyers. Because income is increasing in the area and interest rates are good, many people are looking to move into this market. About 80 percent of buyers are using a real estate agent to help them find the right home, a process that often takes Dallas-Fort Worth buyers upward of nine months to complete.
The majority of buyers in Dallas-Fort Worth are looking for used homes, although more than 55 percent of buyers are interested in buying a new home or would be open to the idea.
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The Most Important Qualities to Look for in a Home
- Quality of construction
- Safer neighborhood
- Better floor plans
- Lower cost per sq. ft.
- Energy efficiency
New Versus Used
- 18 percent of Dallas-Fort Worth-area home shoppers prefer newly built homes.
- 45 percent of Dallas-Fort Worth-area home shoppers prefer used homes.
- 38 percent of Dallas-Fort Worth-area home shoppers are indifferent.
Why Buy a House?
- Favorable interest rates
- Increase in income
- Tired of current house
Time Frame When Searching for a New Home
- The majority of buyers (40 percent) search between 9 and 12 months.
- 18 percent of buyers spend 6 to 9 months looking for a home.
- 13 percent of Dallas-Fort Worth-area homebuyers spend 3 to 6 months searching for a home.
- 23 percent of home shoppers find a home in less than 3 months.
Local Housing Stats
- The average Dallas-Fort Worth home was built in 1982.
- The average Dallas-Fort Worth homeowner will stay in their home for 15 years.
- Dallas-Fort Worth home shoppers are 13 percent less receptive to newly built homes than the national average.
- About 80 percent of home shoppers in the Dallas-Fort Worth area will use a real estate agent.