October 28, 2016
Summer might be gone, but housing is ‘smoke-ing’ in Dallas.
Jonathan Smoke, chief economist with Realtor.com told the MetroTex Association of Realtors a significant number of young, first-time buyers are ready to purchase. Since mid-2012, the dominant generation in the marketplace is the millennial generation. But they have been slower to move into home ownership than the generations before them.
However, the largest increase in Dallas-area sales this year has been homes priced below $300,000 — houses that typically attract first-time buyers. Sales of more expensive houses have slowed in some neighborhoods.
Many of those young buyers are coming to North Texas to find jobs. Some forecasts say that North Texas could create 147,000 jobs in 2016.
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