Millennial Homebuyers

Millennial Homebuyers are missing from the market, but Austin and Dallas may be better values first-time homebuyers in this generation over San Antonio and Houston.

Where are all the first-time homebuyers? In their cozy rentals, that’s where!

With a market almost completely devoid of newby buyers, and the rental market being as competitive as it is (just ask my friend looking for a single-family home in East Dallas!), and prices going up across all segments, it’s just hard to find a place to put your leather couch and Le Creuset stock pot. Millennials hold a lot of potential when it comes to real estate purchases, but where can the find the best value? Is it San Antonio and Houston?

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Not in Texas

No, I have not been drinking. No, this is not one of those Realtor sites where I’m going to tell you this is the best time to buy a home, that prices are going up up up the moment the clock strikes midnight. But I was pleasantly surprised to read that Dallas is one of five cities in the USA where real estate values are projected to rise — did I say RISE — yes, I said RISE — in the next year. According to a recent report by Clear Capital’s home data index, home prices in the following five cities will be heading up: New York City, San Francisco, Washington D.C., Dallas, and surprise, surprise, Orland, Florida. Don’t go too excited — we are talking a tiny .03 % increase in our neck of the woods. But that’s better than .03 down, right?

Those folks at Disney are not so dumb, eh?

The only shocker in that group is Orlando, where home prices have taken not just a beating but a brutal beating, home prices falling 63%.

Here’s the report from Clear Capital.

Oh and the rest of the nation is trying to explain why Texas continues to be a hotbed for jobs and employment. They are calling our gold star with the U.S. Census Bureau, “The Texas Surge”.