What Dallas-Fort Worth land brokers see for 2023 - Dallas Business Journal

While it is certainly difficult to predict what will happen to real estate land values in North Texas in 2023,

Land deals will close in 2023, and to what extent on the development side will depend on the capital markets and cost of materials. If the cost of materials comes down in 2023, as we all hope for, we'll see the financing side start normalizing.Residential land remains in a holding pattern. There are too many economic variables that are keeping homebuilders and lot developers on the sideline.

We see continued demand for large-scale sites by users who are having to look for land that is probably two years out before being ready to build. DFW remains fairly insulated as a CRE market leader through steady in-migration and corporate relocation activity. Still, with today's interest rates and high construction costs, we're rebounding as quickly as the market will allow.

All in all, the majority of our clients are being much more selective on their new land pursuits as opposed to the land-rush phenomenon that we all experienced in 2021.Anytime there is a market correction, price is the first question that gets brought up. Well-located tracts are often owned by well-capitalized family offices or institutions that do not have to sell and, therefore, can hold in a down market.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Flippers shifting strategies in topsy-turvy Dallas-Fort Worth housing market - Dallas Business JournalSome single-family home rehabbers are shifting from a fix-and-sell strategy to a fix-and-rent approach because higher mortgage rates are sidelining would-be buyers. And the housing inventory shortage is causing investors to turn to older homes to restore. Kurt Carlton, president and co-founder of New Western, which offers a nationwide marketplace for fix-and-flip residential properties.
La source: DallasBizNews - 🏆 525. / 51 Lire la suite »

JLL's Taylor Coy discusses state of capital markets in Fort Worth - Dallas Business JournalThe volume of projects has slowed in Fort Worth as the market continues to experience economic headwinds, resulting in a more difficult environment for securing debt.
La source: DallasBizNews - 🏆 525. / 51 Lire la suite »