New construction is booming in Dallas right now! You might be asking yourself why when everyone is "sheltering in place", but that's exactly the point. There are very few cars on the road right now.
Dallas has always been one of the hottest real estate markets for new construction. We are one of the top economic powerhouses in the United States so churning out new homes for buyers is a must. Over 1,000 people a week on average relocate to the DFW Metroplex. Most come from California where people are leaving in the masses due to jobs moving to the Lone Star State. Having less cars, and people roaming the street is making right now the best time for builders to double up on their work load.
Building a home takes a lot of time, money, and man power. It can also be very dangerous if there are a lot of cars and people around. Even with the economy taking a big dip right now. Unemployment is at record highs with the unemployment rate is at 14.7%, but this won't last forever. People will go back to work and they will need homes. So getting ahead of the curve is what is important. That is why home builders are not putting their projects on hold.
As A Top Dallas Real Estate Agent I can speak personally on the fact that the Dallas Real Estate Market is booming right now! I have never been busier. I will most likely do a whole years worth of closed transactions by mid summer. Also, I specialize in new construction. My personal home builder clients are not slowing down. There is a boom of new homes being built right now on what seems to be every street in Dallas. They are also moving at record speed with new projects breaking ground every week. What was once a vacant lot a month or so ago is now what appears to be a home nearing completion. Sure it takes 3-5 months to finish a home, but maybe we will be seeing these homes on the market a lot sooner since builders are working harder right now.
It makes me so happy to know that things will start to get back to normal! Real Estate is an essential business, and so is new home construction! The hot Dallas Housing Market is going to make a rebound this summer! It's already upon us!
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