At Specialized Property Management Specialized, we watch the Texas economy for the benefit of our clients. Real estate trends affect the rental market, and we want our clients to be able to make wise choices with their investment decisions. Real estate is a constantly changing business with ups and downs. No matter what the market trends, our only business is property management in Dallas and the surrounding areas. That means our local expertise and targeted business focus are benefits you profit from in any economy.
Quick Overview of the Texas Economy
The overall Texas economy is continuing in its upward motion. Unemployment dropped slightly, and Texas-based companies did well on the stock market. A slight increase in oil prices also made the numbers for Texas look good. Looking at the Texas Leading Index gives an idea of what the future direction of the economy might be, and these figures marked the second consecutive month of positive numbers.
The Housing Market
Housing sales were up last month. The Dallas/Fort Worth area is attracting new businesses which mean it is also attracting new people to move to the area. Land development and construction costs are contributing to the rising price of homes. Permits for single-family housing construction rose statewide by 2.1%. But, overall new home construction was held back somewhat because of a shortage of skilled labor and availability of developed lots. Numbers show that new homes starting in the $300,000-$349,000 range jumped 81.2%. New homes at $200,000 and under dropped 14.6%. Demand for lower-priced housing is high while the supply is limited. Home prices may level out some, but are predicted to continue to inch upward in the near future. Buyers looking for a large selections of lower priced, new homes are going to find themselves out of luck. You can find more information about the Texas economy and housing market at www.recenter.tamu.edu
What Does This Mean for Dallas Property Management Companies?
First time home buyers are looking for affordable, new homes, but their options are pretty lean. They will either need to wait to buy that new starter home, be happy finding an existing home coming on the market when the owners are trading up, or move into a comfortable rental property. First time home buyers who are choosing to rent recognize the housing market doesn’t look like it will change anytime soon. Now it’s up to property management in Dallas to get rental properties rent-ready and on the market in time for the hot summer real estate market.
Specialized Property Management Specialized is your experienced property management in Dallas that has the local expertise to help renters find the best homes that fit their needs and lifestyles. Investors trust that same management experience to match the highest quality tenant for their property. In any economy, Specialized Property Management Specialized is the partner you can count on for reliable management services. Learn more about our comprehensive list of services at (www.specializeddallas.com)