It’s no surprise that Dallas-Fort Worth (DFW) continues to be one of the top housing markets for home buyers. According to the U.S. Census Bureau, North Texas alone saw growth of more than 170,000 people between July 2021 to July 2022. Despite home interest rates being a top concern, homeowners are still flocking to the Lone Star State thanks to job availability, housing affordability and warm weather. And more than half of respondents to an Opendoor survey* think it’s cheaper to buy rather than rent a home in the DFW area.
We asked local experts to weigh in on the state of the DFW housing market and what’s important for homeowners to know as they navigate the latter half of 2023. Despite overall market headwinds, they all agree: now is still a good time to buy a home.
“In mid-January of this year, it was as if someone turned a switch on for new home builders. Buyers are finally realizing that interest rates are where they’re going to be for a while, and that they still need a home – whether that’s for a new job, a shorter commute, or because they’re tired of renting. The demand is still there” — Ross Norman, Tripointe Homes
“Buyers are still buying. I tell my clients to take advantage of the price because you can always refinance. People are going to realize that the interest rates aren’t changing and they need to move forward in life. — Misty Michael, The Michael Team
“The number of active listings is still significantly higher this year than last. There’s plenty of inventory – maybe not in the most desirable areas – but home buyers are in the driver’s seat and can strongly negotiate.” — Jackson Upcheshaw, Opendoor
We looked at the top 10 neighborhoods in the DFW metro area to see where people were moving at the start of this year. We know that 78% of Dallas residents have said where they live has a big impact on their happiness, and that they were torn between wanting a quiet and secluded location (48%) and wanting to be near restaurants, shopping and nightlife (54%).
Overall, home buyers continue to choose areas like Forney and Aubrey — which repeatedly hold a spot on Opendoor’s list of top hottest ZIP codes across the U.S. — because of affordable home prices, new housing developments, and the charm of rural living with urban amenities. Other areas like Little Elm, Prosper, and Haslet are quickly growing due to their small-town feel, access to recreational activities, and picturesque open spaces – all while being in close proximity to the DFW metro area.
For DFW area buyers, Opendoor Exclusives is our new marketplace where buyers and sellers can connect directly to buy and sell a home without the hassles of the traditional real estate model. Buyers are the first to see homes before they hit the market, so they can shop for and secure unique, off-market inventory with the press of a button.
In the DFW area, here are the top ZIP codes where people are moving:
75126 – Forney (Kaufman County)
76227 – Aubrey (Denton County)
76179 – Fort Worth (Tarrant County)
75071 – Mckinney (Collin County)
75068 – Little Elm (Denton County)
75189 – Royse City (Rockwall County)
75078 – Prosper (Collin County)
75035 – Frisco (Collin County)
76052 – Haslet (Tarrant County)
75009 – Celina (Collin County)
If you’re looking to make your next home in the DFW metro area, Opendoor can help you get started on your journey. Visit Opendoor.com to learn more.
Top ZIP codes methodology: Top ZIP codes are identified by analyzing data from the local Multiple Listing Services (MLS) where Opendoor Brokerage operates. ZIPs were ranked by total homes which went into contract within 90 days of listing in 2023.
*In May 2023, Opendoor surveyed 302 current and prospective (over the next 12 months) home buyers and sellers, age 25 or older, with a household income of $50,000 or more, and who are household real estate decision-makers, in Atlanta, Charlotte, and Dallas-Fort Worth.