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Dallas is top U.S. home market
Dallas' housing market gets top marks in a new consumer study by JPMorgan Chase.
The banking giant teamed up with Pulsenomics to ask homeowners about current market conditions, their aspirations for homeownership and outlooks for home values and affordability.
Dallas headed the housing confidence ranking ahead of Denver, Las Vegas and San Francisco, according to Chase.
"These record results were driven by healthy assessments of local real estate market conditions among existing homeowners, but even more so by surging expectations among renters," Terry Loebs, founder of Pulsenomics, said in the report. "Seven in ten renters now express confidence in their ability to afford a home someday, and nearly three-quarters of those with an opinion say that buying a home is the best long-term investment a person can make."
Dallas-area residents polled by Chase in the survey had the strongest homeownership aspirations.
Eighty percent of Dallas renters Chase surveyed said they are confident they will eventually own a home. And 70 percent said they plan to purchase in the next five years.
More than 60 percent of Dallas-area homeowners Chase quizzed said it is a good time to sell.
Almost 90 percent of homeowners said they expect prices in their neighborhood to go up or not decline.
North Texas home sales are about 4 percent higher so far in 2018 compared with the first five months of 2017. And prices in the area have risen 5 percent from a year ago.
"Affordability remains a top focus for buyers in the market today, but we are encouraged by the overwhelmingly positive outlook across the country," Amy Bonitatibus, chief marketing officer for Chase Home Lending said in the report.
Info taken from https://www.dallasnews.com/business/real-estate/2018/06/27/dallas-top-us-home-market-new-chase-consumer-poll
Michelle Foreman isn't one to focus solely on getting the job done but instead on getting the job done RIGHT. Michelle, a Fourth Generation Realtor, is certified as both a Senior Real Estate Speciali....