Dallas has the second-best economy in the nation

Dallas' economy is led by real estate

Dallas’ economy is led by real estate

Dallas has the second-best economy in the nation. Dallas ranked No. 2 on the most recent “On Numbers” report released this week, according to the Austin Business Journal. Austin led the rankings, and Houston was No. 5.

Each of these thriving Texas cities is home to a SouthStar Communities neighborhood, showcasing the developer’s depth of understanding of economic drivers, long-term real estate cycles, and ongoing migration patterns.

The “On Numbers” report takes into account 18 economic factors and can’t deny the banner year Dallas has had as the city continues to reap the benefits of hot real estate and energy sectors. Lake Ridge at Joe Pool Lake, located halfway between downtown Dallas and downtown Fort Worth, has also benefitted from the hot Dallas market as buyers in search of prime Texas lake property discover all the advantages of living in a lake community without giving up a convenient DFW location.

With continued migration to Texas, “The Texas housing market is reacting to the massive influx of new residents coming to the Lone Star state for jobs,” according to Redfin’s latest report.

“As more residents move to Texas from other states with a higher median home prices, the housing markets in Dallas, Houston and Austin have been bolstered by rising home prices of double-digit year-over-year growth. About 2.5 million people relocated to Texas between 2008 and 2012 in search of jobs from more costly regions of the nation,” the report stated.

Two homesites have been sold at Lake Ridge‘s The Summit neighborhood over the past few weeks, taking advantage of closeout pricing on the final homesites in this gated, hilltop neighborhood and continuing the sales trend at Lake Ridge this year. The exclusive neighborhood of The Summit offers 30-mile views, towering trees, and the highly rated Midlothian School District.

Special offers currently available on prime Texas lake property at Lake Ridge also include newly released lake-view sites from $39,900 and one-half to one-acre properties in The Sanctuary, a gated neighborhood offering some of the most desirable lake real estate in North Texas.

For more information on moving to Texas or buying land and building a custom home at Lake Ridge, visit Lake Ridge.

Hot Dallas Real Estate Market Means Home Sales, Land Sales

Lake Ridge Sanctuary Amenities

Lake Ridge, one of the Dallas-area master-planned communities being rediscovered by eager Texas land buyers

 

By all accounts, Texas home prices are on fire. This is particularly true in the Dallas area, where home prices rose 10.2 percent in May from 2012 levels, according to a new report from CoreLogic Inc. The hot Dallas real estate market is on everyone’s lips, and everyone’s list of places to buy right now (just ask Real Estate Economy Watch or the Dallas Morning News).

Builder Online reports that “demand for new homes is outpacing supply.” In fact, one of the most important measures of market strength, “sold-but-not-yet-built houses,” has risen from 26 percent a year ago to 36 percent today, which is “way up from the low of 14% in…September 2008.

 

This means new-home builders are speeding up production on communities that may have delayed during the market downturn. It also means the land rush is on, both for new-home builders looking for the next place to build a community, and for individuals and families who may have put off their search for the perfect place to buy Texas land, and who now know the time is right.

Indeed, this historical relationship between home sales and Texas land sales has led to a rush of newly minted interest in master-planned communities in strong markets that have shown great strength throughout the Dallas-Fort Worth area. Communities such as Lake Ridge on Joe Pool Lake that offer large Texas land for sale and waterfront and water-view homesites, are particularly popular with buyers looking to buy in an ideal location. Here, they can find the perfect piece of Texas land and build the ideal custom home that is unique to their style and lifestyle. Five new homes are getting ready to be build in The Sanctuary at Lake Ridge, where Texas land buyers quickly fall in love with the spacious, gated, lakeside and lake-view properties offered in the final neighborhood development at Lake Ridge community.

The real estate market is expected to continue its upward progress, according to Dr. Mark Fleming, chief economist of CoreLogic. “It’s been more than seven years since the housing market last experienced the increases that we saw in May, with indications that the summer months will continue to see significant gains.”

For more information about Texas land for sale and Dallas master-planed communities, visit Lake Ridge.

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