Thinking about buying a home soon?
If you’re considering a city in North Texas as a place to call home, you’ll be happy to hear this news.
According to a recent WalletHub.com study on healthy housing markets, North Texas is the place to be!
WalletHub compared 300 U.S. cities across 14 key metrics to get a sense of their housing markets. The data analyzed includes
- Percentage of Homes Underwater (with negative equity)
- Average Number of Days Until a House Is Sold
- Percentage of Homes Selling for a Gain
- Median Home-Price Appreciation
- Foreclosure Rate
- Percentage of Mortgage Holders Delinquent on Their Mortgages
- Number of Homes Held by Banks (unsold Real Estate Owned, or REO, housing units)
- Vacancy Rate (vacant housing units divided by total housing units)
- Building-Permit Activity (number of units permits pulled per 1,000 residents)
- Home Price as a Percentage of Income
- Maintenance Costs as a Percentage of Income
- Population Growth
- Job Growth
- Unemployment Rate
After crunching the data, here are the top 10 healthiest housing markets according to the study:
- Arvada, CO
- Sunnyvale, CA
- Cary, NC
- Santa Clara, CA
In addition to Frisco, Allen, Plano, Carrollton, McKinney and Richardson, these metroplex cities ranked in the overall top 100:
- Denton (#17)
- Irving (#39)
- Fort Worth (#46)
- Grand Prairie (#58)
- Arlington (#67)
- Garland (#79)
- Dallas (#99)
The number of metroplex cities that made the list is quite impressive. And it should give any homebuyer confidence when looking for a home in one of these cities. But keep in mind that considering which neighborhood to purchase a home in is still very important regardless of city.
We’ve known for a while that North Texas is attracting plenty of people relocating from other states because of the housing market and strong economy. Many of the metroplex cities on the list are seeing their fare share of relocating buyers.
Are you surprised that 13 North Texas cities ranked in the top 100 in the country for housing markets? Let me know what you think in the comment section below.