As the real estate market in north Texas continues to heat up, savvy investors begin to look at Dallas’ eastern and western counties for opportunity.The north Texas real estate market has boomed in recent years, listed as the fifth hottest market in the United States. As the market continues to grow, investors and home-seekers are expanding their search beyond Dallas. Tarrant and Rockwall MLS Comps and overall comparative market analysis indicate that these two counties are primed for investment.
Last year, forecasters were predicting a rise in mortgage interest rates in north Texas, but contrary to that analysis rates have dropped to historic lows throughout the months of May and June. At the same time a glance at the Tarrant MLS comps and MLS Comps in Rockwall have shown that the median home price in this area has rocketed to an all-time high of $237,000. The market is burning so hot that over the course of just 7 days in June 2506 homes were listed for sale and 2305 sold in that week. With consideration of comparative market analysis in these counties, it is safe to say that investors who get into these markets now can expect significant returns on investment.
Several factors have led to the rise in the prices, illustrated through MLS Comps in Tarrant and Rockwall; both counties have seen their population increase, largely due to the influx of employees from companies such as Toyota which have relocated to the area. This population growth has meant an increase in demand as supply dwindles. Currently, much of the activity is focused on Dallas, but as the market tightens there, renters and buyers are expanding their search to nearby counties. The opportunities are promising for property owners who, over the next few years can safely rely on a heavy demand for rental units. Since 2000 Rockwall has seen a 44% increase in the number of renters. Meanwhile, Tarrant offers opportunity in terms of overall population, as it boasts a population of nearly 2 million, 39% of which are renters.
Real estate investment is a great way to increase capital, but rarely have conditions been this prime for investment as they currently are in Tarrant and Rockwall counties. The best investments are made when the investor is ahead of the curve. Data mined from Tarrant and Rockwall MLS comps indicate that around the current curve are Tarrant and Rockwall counties. Take a look at the comparative market analysis and get on board the train to investment success in north Texas.
Image courtesy Flickr and warshawskis
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