News Highlights

Dallas, TX is experiencing exceptional growth in attached housing, especially in the downtown/uptown areas.  Traditionally, markets like Dallas have experienced "sprawl" as families move outside of the metropolitan areas to find larger homes with more land.  This phenomenon has encouraged employers to follow the population to the suburbs of these major markets, further encouraging that sprawl. 

As many of these major markets like Dallas grow steadily in population and gradually find less developable land to acquire, builders tend to look for greater opportunity at the core of the city.  Redevelopment of blighted areas along with new construction and infrastructure create new opportunities for housing in the central areas of cities like Dallas.  Higher density living is now driven more by a change in demographic and lifestyle choice.  Many factors such as rising fuel costs further encourage people to live, work, and play all in one area.  This new craze in urban development and redevelopment is evident on websites like www.newcondosonline.com which provides builders a cost effective national advertising and lead generation portal.  www.newcondosonline.com showcases hundreds of new and pre-construction condo, townhome, and loft communities across the United States.    

Builders have even taken advantage of the vast amount of vacant office space in downtown Dallas.  High-rise office buildings are being acquired by builders and converted to condominiums.  Converted apartment projects and new condo and townhome properties are sprouting up all over the downtown/uptown area.  The question is: Can the market support all of this new development?

Websites like www.newcondosonline.com which provide homebuyers and investors a national resource for finding and comparing new condo, townhome, and loft developments show thousands of units planned and under construction this year in Dallas.  Trends in the condo market across the country are causing confusion among buyers and investors.  While some markets are cooling, others are heating up and continuing to gain momentum. Some markets that once experienced high levels of second homebuyer and investor traffic are beginning to level off.  Some of these investors that have left markets like southern Florida and California have found their way to Dallas.  These buyer investors are now supporting much of the new development in Dallas. 

David Gleeson, Executive Vice President of L&B Realty Advisors, says, "Through the first quarter 2006, it is clear that the Dallas/Ft. Worth condo and townhome market is on pace to build and sell over 42,000 new units this year.  The uptown condo and townhome market continues to absorb units as they are delivered with a relatively normal supply of 4 to 6 months of unsold inventory.  The big question in the market remains to be: will investor purchasing remain at this high level of activity?"

The fact remains that developers are continuing to build and sell new projects in markets all over the country.  Builders are going to continue to need valuable resources like www.newcondosonline.com to capture a larger potential buyer base so they can pre-sell units and meet rigid lender requirements.