DFW Named Top Real-Estate Market to Watch in 2019
It, simply, cannot be argued that the Dallas-Fort Worth area is not just a 'hot' market when it comes to real-estate in the entire country – it's downright sizzling. What if you were told Dallas is THE best city in the US for real-estate, and that the DFW area has been named the top real-estate market to watch in 2019?That's a revelation that would need to be backed up by facts – and, it is.
Let's delve into a few very interesting insights that substantiate these claims about Dallas and the DFW area being ranked as #1 within the ever-changing landscape of US real-estate.
PwC and Urban Land Development Release Their Findings
On October 10, 2018, PwC (Pricewaterhouse Coopers) and the Urban Land Institute released their 2019 Emerging Trendsin Real Estate – their 40th annual, published report – stating that DFW achieved the #1 ranking for US real-estate. Part of the credit for that propulsion is due to Dallas' young, vibrant work force along with potent business start-up activity which contributes to the Big D as being the top investment destination.
As PwC real-estate leader, Byron Carlock, Jr. said:“I'm thrilled to see Dallas at the top of the list. It points to a lot of things that Dallas is doing right: leadership, investment in infrastructure, urbanism, and exurbanism.”Mitch Roschelle, also from PwC, adds to that: “What the Dallasarea has going for it is a diverse and stable employment base, thanks to the wide-spectrum of industries represented in the area.”
Dallas-Fort Worth added a whopping 146,000 new residents during 2017; and that beat, hands down, every other metro area in the country – impressive!The cost-of-living is relatively low in DFW; and population-growth projections make it the leader of the pack, by two times, compared to other major US cities – and those other US cities include 78 that were analyzed, aside from DFW.
Carlock tells us that not only is DFW the strongest US market for, both, job growth and population gains, but DFW is the top home and apartment building center in the country and is considered as high-demand for a myriad of commercial and real-estate endeavors.
The top-10 'contenders' for the coveted title of “Top Markets to Watch in 2019 Real Estate” include the following:
1. Dallas-Fort Worth
2. Brooklyn
3. Raleigh/Durham
4. Orlando
5. Nashville
6. Austin
7. Boston
8. Denver
9. Charlotte
10. Tampa/St. Petersburg
What are Other Contributing Factors?
The rankings of 79 cities were meticulously compiled from thousands of interviews with real-estate experts, spanning a large swath of industries; and a variety of trends were taken into account by PwC and the Urban Land Institute.So, what is it that greatly contributes to these cities' outstanding rankings? It is a variety of crucial factors that make it all happen. Here are just a few:
Innovative Office & Multi-Family Amenities
New office buildings and multi-family structures are being designed with much more than fitness centers and recreational areas.Child and pet care, bike storage, and curated gardens for growing fresh produce are added niceties that people, very much, desire and embrace.
Re-purposed Retail Space
Retail spaces being transformed into urgent-care facilities, health & fitness providers, restaurants, entertainment venues, and more are good for the community and good for business.
Millennial-centered Suburbs
Suburbs that are active and exciting are attracting millennials who are reaching their mid-30's. They want homes with urban amenities that include walkable neighborhoods, shopping and entertainment located nearby, a generous amount of green space, and good schools.
ESG Practices
Institutional and international investors as well as public REITs are attracted to metro areas where funds with an ESG (environment/social/governance) investment plan are in place. As a side-note: REITs are companies that own, operate, or finance, income-producing real estate in a range of property sectors. When ESG practices are in place, factors related to ESG are taken into serious consideration alongside financial factors in the investment decision-making process.
Top concerns for 2019 were, also, revealed in the PwC/Urban Land Migration report including: rising interest rates, higher property insurance costs, immigration restrictions, and the long real-estate cycle.
After it's all said and done, Dallas-Fort Worth, plain and simple, tops the list of US cities that real-estate industry experts say will be the best for their business in 2019. The last time DFW topped the Emerging Trends in RealEstate Report was in 2015,with that report looking ahead to 2016. When it comes to property investment and construction, Dallas-Fort Worth is, most definitely, enjoying its lead-dog position. As they say: Unlessyou're the lead dog, the view never changes; and DFW is, most assuredly, enjoying the view!
Source:
https://www.dunhillhomes.com/blog/dfw-named-top-real-estate-market-to-watch-in-2019