2️⃣ 0️⃣ 2️⃣ 2️⃣ 🔮 Don’t look for an end to rising Dallas-Fort Worth home prices in 2022
“We are at 58,000 starts,” said Ted Wilson, principal with Dallas-based housing analyst Residential Strategies. “We’ve grown starts over 60% in the last two years. The labor and supply chain capacity has not been able to keep up.”
“We thought builders would tap the brakes a bit,” he said. “But it could be another year that matches this year. Demand is still strong. Until we hit a tolerance threshold with respect to price or mortgage rates going up, we are just not seeing a slowdown in home sales.” Realtors’ chief economist Lawrence Yun credited the area’s strong job growth with pushing up home costs in 2022 and a lack of attractive building sites for new houses.
Apartment residents might see smaller rent increases from their landlords. But the D-FW apartment market has already seen a record run-up in rents.– the largest such jump on record, according to apartment analysts at RealPage.
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