Four North Texas Cities Are Rated as the Best Real Estate Markets in the Nation

The fast growing communities rank first, second, fourth and sixth in a ranking of the 10 top property markets in the country.

Two Dallas-area cities are rated as the best real estate markets in the country. And four of the six top U.S. property markets are in North Texas, according to a just-released study from WalletHub.

McKinney and Frisco took the top spots in the 2023′s Best Real Estate Markets report. Denton ranked fourth and Allen was sixth in the annual nationwide study.

Austin ranked eighth on WalletHub’s top 10 markets list, giving Texas cities half the spots in the ranking.

The study looked at 300 U.S. cities and rated the real estate markets for housing attractiveness based on factors including home price appreciation, share of underwater mortgages, foreclosure rates, housing affordability, population growth and unemployment rates.

It’s no surprise three of Collin County’s fastest growth cities are at the top of the real estate ranking.

Fort Worth placed 22nd in the national list, Plano was at 24 , Richardson was 28th, Irving placed 36th and Dallas was ranked as the 43rd best U.S. real estate market, according to WalletHub.

Fast-growing cities fared better in the home-buying rankings.

“I would advise buyers to pay more attention to job growth rates and unemployment rates within their metro area,” San Jose State University professor Kelly Snider said in the report. “In most parts of the country, small and mid-size employers are hiring and growing, which means the local economies are strong and local markets are stable.”

Dallas-Fort Worth is one of the country’s strongest metro areas for both population and job growth.

Real estate costs in the area are moderating after several years of soaring prices. D-FW area home prices were down 1% year-over-year in the latest survey.

“There is no crash coming, and it is too expensive to boom anything. What we see is that exorbitant increases are stabilizing, and the entire housing market is getting less volatile and more predictable,” Snider said. “That is good for the economy and good for employers who want a stable cohort of employees. The housing recalibration is very good for long-term stability in the U.S.”

Source: Dallas Morning News