Although the latest reports indicate that the Dallas-Fort worth apartment market performance has declined in the third quarter, the housing market in the greater metro Dallas area remains strong, and is ahead of most other metropolitan areas nationwide in terms of making its way toward a full recovery from the housing crisis. The demand for apartments is attributed to the influx of new residents coming to the Dallas area. Many major employers have expanded their bases of operation, and because hundreds of new employees are looking for rentals, prices have gone up.
However, in some areas, the demand for rentals has gone down. In general, areas outside of metro Dallas that have seen the biggest decrease in price are those that are middle- to low-income neighborhoods. In these areas, renters are more sensitive to increases in mortgage payments or rent, and are inclined to look for alternative housing or live with a roommate instead of pay higher rates to stay where they are.
Regardless, construction of new homes and apartments is at an all-time high in areas surrounding Stephenville homes. The new real estate has contributed to the decrease in rent since there are more options for Texans to find the bets deals, although since the population increase in North Texas has accelerated at a steady rate, real estate experts believe that rents will trend upward in the near future.
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