Texas Economy and Millennials Looking for Houses

Fort Worth rental property management

Fort Worth rental property management gets ready for the summer season

Texas is a popular place to be in 2016. People want to relocate to and build a business in the Lone Star state. Millennials who have postponed home-ownership won’t find the market an easier playing field this year. Fort Worth rental property management companies can see a few leases end and tenants become homeowners, but renting is still the option of choice for many professionals with a family.

Texas Economy

Even with oil crude prices down and job cuts in the energy market, the Dallas-Fort Worth area is one of the fastest-growing communities in the nation. And the Dallas area can boast being where more that a third of the houses in the state were sold during this year’s first quarter. The state continues to have annual employment growth and the unemployment rate remains below the national average. So even though the housing market growth is expected to slow down this summer, it is still strong.

Where are the Houses?

The demand for affordable housing in Texas is high this season. But the supply of homes on the market is low. A 25 increase in listings last month isn’t enough to keep up with housing demands. High demand means buyers are looking at record prices for homes. Housing prices are predicted to level out, though, which could give hope to potential buyers. Competition is strong and millennials looking to buy their first home can expect potential bidding wars and homes going for higher than their listed price.

What does this Mean for Fort Worth Rental Property Management?

Record home prices and low inventory mean that after the hot summer real estate season, some home buyers won’t have found the home purchase they were looking for. Millennials were predicted to be big home buyers in 2016. But instead of being a stampeding wave on the housing market, they will more likely slowly trickle into the market. Investment property owners can take advantage of the need for affordable housing and get their rental homes up to code and rent ready for the coming real estate season.

Specialized Specialized Property Management is the leading property management company that can help you get your rental ready for leasing. We offer professional remodel services, lease preparation, and proactive advertising so you quickly see success with your investment. With millennials take their time with buying a home, finding a comfortable home to rent is their current goal. Find out what Specialized Specialized Property Management can do for you at (www.specializedrpm.com)

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