2024 Dallas Real Estate Market Trends
As we step into 2024, real estate investors can find a silver lining after a year dominated by soaring interest rates and record home prices. The gradual decline in interest rates offers investors increased maneuverability within their financial plans, presenting potential opportunities for property acquisitions.
Dallas Snapshot
Realtor.com reports that the median listing home price in Dallas, TX was $425K in January 2024, trending down -1.2% year-over-year. The median listing home price per square foot was $252. The median home sold price was $411.9K.
In January 2024, Dallas presented a prime opportunity for real estate investors as it transitioned into a buyer’s market. The supply of homes outweighed the demand, creating favorable conditions for investors seeking strategic acquisitions.
March 2024 Market Update
Tune in and stay up to date with the current real estate investment market.
We will be led by Catalyst Funding’s industry experts, CEO Wade Comeaux, our Director of Lending, Jeff Johnson, and special guest, Steve Davis, CEO, Total Wealth Academy.
Let’s dive into:
- National and Texas leading indicators
- Recent numbers for San Antonio, Houston, Dallas, and Austin
- Lending Updates and Today’s rates
Shifts in Market Dynamics?
Fresh insights from Freddie Mac indicate a notable dip in average mortgage rates, falling below 7% in December for the first time since August. The prior peak of approximately 8% in October had a pronounced impact on housing costs, reaching levels not seen since 2000. This shift is particularly relevant for real estate investors, as it signifies a potential shift in market dynamics.
“Fueled by a robust economy, business-friendly environment, and growing population, the Lone Star State continues to attract eager investors.”
Renting vs Homeownership Trends
Furthermore, the 2023 Zumper Annual Rent Report highlights how high interest rates influenced the rental market, with homes becoming 52% more expensive than rentals—the widest gap on record.
Investors may also note that these steep rates deterred over 69% of renters from entering the homeownership market in the previous year.
Commercial Projections in Texas
Looking forward to 2024, the Texas commercial real estate market is set for steady growth in office, retail, and industrial properties. Multifamily housing also remains an attractive option with shifting preferences.
To thrive in the dynamic Texas market, investors must conduct thorough research, collaborate with local experts, diversify portfolios, and stay updated on market trends.
As we anticipate the opportunities in the Texas real estate market for 2024, remember that Catalyst Funding stands ready to support your investment journey. With our deep roots in real estate lending and extensive experience in thousands of transactions, we offer tailored products and services to meet the unique needs of both seasoned investors and first-time flippers alike.
Contact Us today to talk about your next real estate investment opportunity in the profitable Texas market.
Article References
- https://www.recenter.tamu.edu/articles/tierra-grande/2024-Texas-Real-Estate-Forecast-2407
- https://www.mymetrotex.com/market-reports/
- https://www.har.com/dallas/realestate/pricetrends
- https://www.nar.realtor/newsroom/in-the-news/austin-dallas-fort-worth-seen-as-nations-top-two-home-markets-in-2024-houston-no-6-the-dallas
- https://www.zumper.com/rent-research/dallas-tx
- https://www.realtor.com/realestateandhomes-search/Dallas_TX/overview
- https://www.marketwatch.com/story/the-price-gap-between-renting-and-buying-just-hit-the-widest-point-since-2000-new-analysis-shows-d98ebe77
Houston Real Estate Market 2024
The promising investment landscape in Houston’s real estate market for 2024 is driven by population growth, a diverse economy, and affordable living costs. The increasing demand for both rental properties and homes for sale, offers lucrative opportunities for investors. Insights from industry professionals indicate a positive start for the year, with notable increases in single-family home sales and activity across different price segments, showcasing a balanced and active market. Get monthly updates to the Houston real estate market here!
Dallas Real Estate Market 2024
The Dallas real estate market in 2024 continues to stand out as a beacon of opportunity for investors and homebuyers alike. With a robust economy and steady population growth, Dallas offers a dynamic environment for real estate investment. Get monthly updates to the Dallas real estate market here!
Texas Real Estate Market 2024
In 2024, Texas presents a promising landscape for real estate investors, boasting a vibrant commercial and residential market. Fueled by a robust economy, business-friendly environment, and growing population, the Lone Star State continues to attract eager investors.
Unlocking the Potential: Real Estate Investing in Houston, Texas
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