June 26, 2018
The May 2018 jobs report for the Dallas-Fort Worth-Arlington Metropolitan Statistical Area (MSA) noted a 3.7% annualized growth rate in the early part of 2018, and the addition of 55,000 jobs. Unemployment remained near a record low of 3.5%, while the Business-Cycle Index ended up expanding at an annualized 5.5%. All of this led the Federal Reserve Bank of Dallas to observe, in its most recent report, that “The Dallas-Fort Worth economy continued to expand at a torrid pace.”
On the housing front, DFW home prices increased in Q1 2018. However, “gains in Dallas lagged the nation’s increase for the first time in four years.” On a year-over-year basis, prices in Dallas increased by 8.3%, and 11% in Fort Worth, leading Dallas Fed analysts to conclude that “healthy job creation and tight home inventories have propelled price increases in the area.” The price increases continue putting downward pressure on home affordability throughout the Metroplex.
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