The Dallas-Fort Worth Metro real estate market continues to grow despite the spread of COVID-19 around the world. While the retail sector struggles to adapt and is forced to close many businesses, the price of buying a home continues to rise.
There is speculation as to why housing prices in the area seem unaffected–the simple answer, according to Crystal Zschirnt, a real estate agent with Redfin, is that demand continues to grow, but the supply of homes listed on the market is declining. As many Americans get back to work, there is more certainty in individual financial situations, meaning more Americans are taking advantage of the record-low interest rates. Alongside this, there is speculation of renters looking into homeownership. As Dallas rental rates continue to increase amid the pandemic, the federal low interest rates and first-time homebuyer assistance programs look more promising renters.
Camden Homes has also seen increased activity during the pandemic. Through marketing and sales efforts during the pandemic, Camden Homes recently broke a company record of contracts written within a quarter and also hit record-high lead generation.
With multiple developments around the Dallas-Fort Worth metroplex, Camden Homes is preparing to better service the demand for housing with 3 new communities in and near Dallas. Teagarden Estates, Kensington Valley, and Westcliff Estates are all under development and are within Dallas city-limits. Closest to completion is Kensington Valley, a community that has already generated several contracts through pre-sales.
Marketing efforts for the area have shown a strong interest in entry-level single-family houses, as potential homebuyers reach out week-over-week. Chariot Village, another community in Dallas by Camden Homes, is almost sold out. Kensington Valley and Teagarden Estates are located in the Southeast region of Dallas, meanwhile Chariot Village is in eastern Dallas region. Although both areas have been established for a while, both continue to see development.
Areas outside of urban centers have also seen growth. Recent trends show residents moving to surrounding counties, i.e. Collin County in the Dallas Metroplex. Developments in small cities in Collin County prep for the continued population growth of the metroplex. Cities like Anna and Farmersville, where Camden Homes builds multi-phase developments, are seeing growth in both residential and commercial development.