According to CNNMoney, more people moved to the Dallas Fort Worth metroplex than to any other metropolitan area in the United States last year. The population here increased by 162,250 between July 1, 2006, and July 1, 2007, according to a new U.S. Census Bureau report. Atlanta, Phoenix and Houston also saw their ranks swell by more than 100,000 people each.
Eight out of the top ten fastest growing metro areas were located in the South, and the South also accounted for more than half of the 50 fastest growing regions.
The Sunbelt is the fastest growing part of the country because in large part thanks to its lower cost of living - from housing and groceries to taxes. The region has been one of the fastest-growing for years now, and in the words of William Frey, a leading demographer, “growth breeds more growth.” As more people move to an area, there is increasing demand for goods and services, which creates more jobs. More jobs means more homebuyers. More homebuyers moving into an already increasing housing market means the potential for a stimulated Dallas real estate economy. Here in Flower Mound we are fortunate that the drops in value that are happening on both coasts are not happening here. That is not to say our market is not slowed slightly but a boost to even a flat market could mean a banner year for real estate and mortgages in the Dallas Fort Worth area!
Craig Pollard is a mortgage professional and owner of Texas Mortgage Team. He specializes in the Dallas Fort Worth area and is a frequent voice on Texas Home Central’s blog. Craig can be reached at 972-317-9900 or emailed by clicking here.
Tags: Dallas Growth, Housing Market
This entry was posted on Friday, April 4th, 2008 at 2:48 pm and is filed under Dallas Fort Worth, Housing Market, Investor. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.