{{titleBar.title}}

{{titleBar.tagline}}

 

 

Tough time looking for a new home under $200K in DFW?Tough time looking for a new home under $200K in DFW?https://www.recenter.tamu.edu/news/newstalk-texas/?Item=136262016-06-28T05:00:00Z

​​​​​​​DFW - It used to be fairly easy to find a new home for under $200,000 in North Texas. 

But according to Metrostudy​, first quarter 2016 data show a “new normal,” reflecting a meteoric rise in starts above $200,000, meaning it’s harder than ever to find a new home in the sub-$200,000 price range.

With rapidly rising land and development costs, developers tell Metrotex ​there is not much hope for the revival of the sub-$200,000 new home market in North Texas. 

According to Dr. James Gaines, chief economist with the Real Estate Center at Texas A&M University, “Affordability and workforce housing are going to be a major issue—we are not building enough houses in the $150,000 to $200,000 bracket.”

The greatest demand and strongest sales for the 1Q2016 are between $250,000 and $400,000, according to Metrotex.
 
Housing starts in this price range accounted for 44.4 percent of 1Q2016’s total starts.

But here’s a surprise: a whopping 31.6 percent of starts occurred above $400,000. 

As North Texas home prices continue their upward climb, and higher priced lots come to market, it will be important for builders to deliver new homes based on buyer demand.
CandysDirt.com
Dallas-Fort Worth-Arlington
Housing
http://candysdirt.com/2016/06/20/looking-house-200k-dfw-youre-gonna-tough-time/

​See Dallas Housing Market Research. ​

Read more at {Source}

 Search NewsTalk Texas