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DFW ECONOMY
Its little wonder that Dallas-Fort Worth is such an inviting place to live and why so many families are attracted to the area. The local economy is booming, with affordable median home prices and job growth second only to New York. The Metroplex is currently ranked as the #1 growth market in the U.S.
The strength and stability of the local DFW economy is based in its diversity. The area is home to a wide range of industries, from transportation, technology, trade, aviation, oil and gas and advanced services, providing startup and relocating companies with a favorable business environment where they can flourish and prosper.
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Affordability
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DFW & Houston Rank As The Most Affordable Housing Markets of the 20 Largest U.S. Cities
Housing affordability means that most families in North Texas can afford a bigger, nicer house. A household income near $60,000 likely is able to afford the median priced new home in DFW.
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Source: National Association of Homebuilders (July, 2007)
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DFW’s Affordable Housing Means Future Growth PMI Mortgage Insurance Winter U.S. Market Risk Index (see #10 below)
Housing affordability is one of the major reasons companies and families relocate to North Texas.
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Source: PMI Mortgage Insurance
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Job Growth
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Texas Leads The U.S. In Job Growth (LAUS)
Job growth is the most important market driver in creating housing demand. Texas created 218,600 jobs in 2007.
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Source: Bureau of Labor Statistics
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DFW Ranks As the #2 Job Growth Market in the US
DFW’s diverse and strong economy produced 65,800 new jobs in 2007.
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Source: Bureau of Labor Statistics
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Job Growth Is Steady In DFW
DFW has maintained a steady production of new jobs.
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Source: Texas Workforce Commission (CES)
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Low unemployment
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Unemployment Is Low In DFW
The unemployment rate has steadily declined in DFW this decade. At year end 2007, the unemployment rate for DFW was a very low 4.2%.
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Source: Texas Workforce Commission (LAUS)
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Population Growth
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Population Growth—DFW Is Now the 4th Largest Metropolitan Area In the United States
The D/FW area adds 370 residents every day. The Dallas/Fort Worth area has been consistently growing for decades because of its central location, outstanding airport, low cost of living, housing affordability, pro-business environment and temperate climate. The metroplex is the largest metro area in Texas and ranked #4 largest MSA in the nation at over 6 million in population
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Source: Greater Dallas Chamber of Commerce
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Population Growth — Near Term Outlook
ranks DFW as the #1 growth market in the U.S. for 2006-2011 with over 630,000 estimated population growth
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Source:
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Population Growth — Long Term Outlook (NCTCOG 2030 Forecast)
Forecasts put population growth at a little over 100,000 persons per year
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Source: North Central Texas Council of Governments
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TOP 10 REASONS TO BUY A NEW HOME NOW
1. Get more house for your money
Your dollar goes further in D/FW whether you choose a home ready for move-in or to build from the ground up.
1. Low Interest Rates
Todays extremely low interest rates allow you to buy more home than ever before with a 30-year fixed rate mortgage.
1. Location. Location. Location.
No matter where you work or want to live, you’ll find brand new homes in great locations across the Dallas/Fort Worth metroplex. Near lakes, near the airport, near work centers and schools…just minutes from everything you need.
1. Tax Benefits
Homeownership is a solid investment in the D/FW area and provides you with tax advantages through deductions for mortgage interest and taxes.
1. Great Selection
Right now, you’ll find the best selection of new completed homes in many years.
1. Strong local economy and good job growth
You can feel confident that the Dallas/Fort Worth area will continue to grow. Its location in the center of the country along with Texas’ pro-business, entrepreneurial attitude will keep Dallas/Fort Worth as the one of the top growth markets in the country.
1. Stable Home Prices
Home prices in the Dallas/Fort Worth area have maintained slow, steady growth so values should continue to increase.
1. Quality Construction & the latest design in NEW homes
Dallas/Fort Worth builders are at the forefront of new home design trends and feature exceptional quality finishes and construction compared to many parts of the country. New homes also offer warranties and require less maintenance than pre-owned homes.
1. Technology, energy and resource efficiency
New homes offers the latest energy efficient construction methods, materials, appliances and heating and cooling systems to provide you better, more comfortable living…and save you money
1. Equity
Your home is your largest investment and in most cases you can build equity faster in a new home than a pre-owned home.
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