Which DFW city was named the best real estate market in the country?

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We knew the Dallas-Fort Worth real estate market was very popular, but understand this. WalletHub named Frisco the best real estate market in the country in its Best Real Estate Markets of 2021 report released yesterday. Country!

The personal finance website compared 300 cities across two key categories: Real Estate Market and Affordability and Economic Environment. Specifically, they looked at 18 key indicators of housing market attractiveness and economic strength.

Several factors were universal for the healthy Metroplex market, such as the average number of days on the market (DOM), the Zillow home price forecast for May 2022, and the average rise in house prices. Other key factors are shifting strongly towards our northern suburbs, which have grown sharply over the past 20 years, including building permits and the proportion of new homes built between 2010 and 2019.

Frisco was one of 14 Metroplex cities to make this list. Overall rating among small, medium and large cities:

  • 4. McKinney
  • 5. Denton
  • 6. Allen
  • 26. Fort Worth
  • 35. Richardson
  • 43. Carrollton
  • 47. Irving
  • 52. Grand Prairie
  • 55. Plan
  • 74. Garland
  • 86. Arlington
  • 123. Mesquite
  • 137. Dallas

The average price of secondary housing rose by a record 23.6 percent over last year. Housing prices were rising on average also throughout the pandemic, but house prices and rents vary widely across the US, depending on supply and demand.

What does this mean for buyers? Financial experts approached by WalletHub did not refuse. Q: Is this a good time to buy a home?

“Unfortunately for buyers, no. This is possibly the worst time to buy a home since leading up to the 2007-2009 housing crash, ”said William R. Miles, Research Fellow at the Center for Real Estate and Professor of Economics at Wichita State University.

The full report can be found at WalletHub.com.

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