Essay on Real Estate Market Analysis

2112 WordsNov 19, 20059 Pages
Table of Contents Market Analysis Forecast Population Growth to 2025 2 Housing Affordability, Average Sales Price and Growth 4 Housing Characteristics 6 Society and Ambiance 6 The age distribution 7 Types of households 8 Educational attainment 9 Economic Outlook 10 Unemployment Rates & Employment growth 10…show more content…
If current trends continue, approximately 40 percent of these new households will be captured by Collin County, significantly driving the residential market in this region. In fact, 98 percent of all population growth in the PMSA is expected to be captured by the three county areas of Collin, Denton and Dallas. 2. Housing Affordability, Average Sales Price and Growth As it is illustrated in figure 2.1, Collin County has the highest percentage of families that can afford median-priced homes in Dallas market and it is 14 present above the whole US market average. Figure 2.1 Dallas Market Overview 2004 Housing Housing Affordability - Fourth Quarter 2003 Percent of Households That Can Afford Median-priced Home THAI* THAI for First-time Homebuyers Collin County 69 1.38 1.16 Dallas 56 1.09 1.05 Denton County 66 1.31 1.10 Irving 62 1.19 1.36 Texas MLS Total 54 1.06 0.92 U.S. Total 55 1.06 0.77 * The THAI is the ratio of median household income to the income required to buy the median priced home using currently available mortgage financing. Standard financing is a 30-year loan covering 80 percent of the cost of the home. Source: Real Estate Center at Texas A&M University In figure 2.2, Collin County is recognized with the highest average sales price of single-family home in Dallas area and still rated with the highest affordability in the region for its residents. Figure 2.2 Average Sales Price of Single-family Home, Dallas
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