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Dallas-Fort Worth Has Lowest Supply of Listed Homes for New Buyers

First Texas Homes

Based in Dallas, Texas, First Texas Homes is a leading residential home construction company. In its 30-year-plus history, First Texas Homes has become one of Dallas-Fort Worth’s (D-FW) largest private home builders.

D-FW has the nation’s tightest supply of homes for first-time buyers, according to a survey by real estate marketing firm Zillow.com. About 62 percent of all homes listed in the area were “high end” while only 9 percent were found to be affordable for first-time home buyers. The nationwide average for homes priced for first-time buyers was 22 percent.
Zillow estimates that home prices in D-FW rose by over 12 percent in March, higher than the nationwide average of 8 percent. Currently, the median home sale price for a pre-owned single-family home in North Texas stands at $260,000.
Zillow chief economist Svenja Gudell said in the report that as the home sales market heated up, Millennials would be at a great disadvantage, considering many homes were not priced for first-time buyers. They would, therefore, be competing for the few available homes, driving up their demand.
Other markets listed in the report with few low-priced homes include Charlotte, North Carolina, with only 12.3 percent; Atlanta, Georgia, with 13 percent; and Orlando, Florida with 13.9 percent.

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