NORTH TX REAL ESTATE RANKING - The best place to buy a house in the U.S.? According to a new report by personal finance website WalletHub, three cities in North Texas are the top three real estate markets in the country to buy a house. They are Frisco, McKinney, and Allen, Texas; these cities topped WalletHub’s rankings. Nearby Richardson and Denton also finished in the top 10. Steven Powell is an agent for JP & Associates Realtors in Frisco. He says part of the reason North Texas is such a draw is due in part to how stable the region’s real estate market was following the 2008 crash.
"When that happened we only lost 10 percent of our value here, whereas Arizona, California, Florida, Las Vegas, places like that lost up to 40 percent."
Powell says the region’s housing values traditionally have gone up 2 to 3 percent a year until recently. The last few years North Texas prices HAD been rising around 10 percent a year. But that’s cooling.
"I think what we’re starting to see right now is the market slow down. It’s getting a little bit more difficult for people to afford the kind of houses they could a couple years ago because houses are starting to sit on the market a little bit longer. "
According to Powell, this dynamic isn’t a sign of imminent housing market collapse, but rather that the Northeast Texas real estate market is stabilizing itself.
