Texas is an attractive area for a variety of corporations, and the presence of both large and small businesses supporting growth in jobs leads to a better economic state than much of the nation. Even the periodic economic downturns that our country faces don’t hit Texas’s relatively stable economy with the same severity. The health and stability of our national and local economy certainly impact the health and stability of your real estate business. Dallas real estate property management keeps eyes out for economic trends and changes. This information can inform strategic decision making for your real estate business.
The overall economy of this Lone Star State is faring well, again largely due to businesses and the job opportunities they provide. The unemployment rate is below the national average. A key source of information used to assess the health of the economy is the Texas Leading Index, and the businesses within the state generally have stable stock prices on the Index, reflecting the positive economy. Although local businesses provide jobs, the strong US dollar makes exports more expensive for oversea purchases and a decrease in demand and price for oil all leads to a reduction in Texas and US exports.
When the housing crash hit the nation, Texas didn’t get hit so hard. And the last several years has shown growth for Texas in the housing market with home prices steadily rising. This last quarter showed that market growth slowed down a little. House prices for existing homes showed listing prices and actual sales prices leveling out, while prices for new houses had a wider gap between listing price and actual sales price. The Texas Housing Opportunity Index shows that the affordability of a home to a family with a median income in Texas is below the national level. Even with that number, Dallas shows to be less affordable with housing than the nation, but Fort Worth is more affordable than the rest of the country.
Economy and Dallas Rental Property Management
While housing prices have steadily been increasing in the recent past, housing price increases now are slowing down. The supply of moderately priced houses is still lower than the demand. Rental property owners can help with the supply of comfortable, moderate housing by having their rental units rent-ready for the demand.
Specialized Property Management is the Dallas rental property management company that watches housing trends and economic turns to give investors the best support possible. We offer a comprehensive list of services that care for your tenants and property with integrity. For more information on the Texas economy visit https://www.recenter.tamu.edu/research/the-texas-economy.
Find out more about the services offered at Specialized Property Management at www.specializeddallas.com