Home supply in Dallas remains high with buyers adjusting to the new mortgage prices and home prices. The median home price in Dallas has increased by almost $100,000 since the recession.

Custom home builders started more than thirty three thousand homes over the past four quarters, just over nine thousand five hundred were started in the third quarter of 2019. This is an increase of more than ten percent compared to the previous quarters. The market has closed over thirty two thousand homes, a 2.7% increase on the previous year.

With the rental rate increasing in Dallas, along with an increase in job growth, the demand for new custom homes has risen exponentially. The explosive growth in the county is due to many corporate relocations with more employment opportunities. New home prices were $329,200 in 2019. The median home prices have risen in the past fifteen years.

New home builds did drop during the recessions with development slowing. The recovery has improved with buyer demand in the area over the past twelve months. Lots were around sixty foot in previous years, but now with price hikes, the lots have changed to thirty and forty feet. It is expected that the market will remain consistent for the next few years as new custom home builds are approved and planned.

Mike Blake, the President at Mike Blake Homes, said “We have enjoyed tremendous growth over the past twelve months and are expecting this growth to increase in the coming years as more businesses and people move to Dallas. Dallas has become a hub for commercial businesses, welcoming new employment opportunities and new residents. Many of these people are looking for a home that meets their specific needs and a new home build provides them with this convenience, rather than buying an existing property and then renovating it.”

Mike Blake Homes has remains a leading custom home builder in Emory Texas for many years. The company has years of experience with a knowledgeable and passionate team who focus on completing each project on time and within budget. Full details can be found on their website, which is overflowing with valuable and useful information.

About Us :

Mike Blake Homes is a leading custom home builder based in Texas. This well-established home builder offers attention to detail and top quality services throughout the area that their customers can rely on and trust. The company has already completed successful projects in Tyler, Sulphur Springs, Keller Rockwall and more. They are a team of professionals who focus on ensuring all customers get the house of their dreams. Mike Blake is a home building expert and featured speaker at building events throughout the country. To find out more, visit https://mikeblakehomes.com.