WalletHub recently announced the Best Real Estate Markets for 2024, and four North Texas cities ranked in the top 10.
McKinney ranked No.1, followed by Frisco at No.2. Denton came in eighth and Allen finished in ninth.
McKinney finished first largely due to its recent growth, according to the study. The city also had the second-highest share of houses (35%) built between 2010 and 2021, and more new housing options are on the way, as the city boasts the highest number of building permits per capita. McKinney also ranked the 76th cheapest out of 300 cities in the study.
Frisco had the second-best real estate market. The city also had the highest share of houses (42%) that were built between 2010 and 2021. Newer homes generally require less work to be done, which means greater savings. Frisco also ranked as the 84th cheapest city, ranking 10th cheapest for phone service and 11th cheapest for maintenance and energy.
Newsweek reports on the WalletHub rankings. Here’s the start of the story:
While mortgage rates dropped below 6 percent this month, prospective homebuyers are still not eager to bite in many markets. But even as the nation’s housing market remains uncertain right now, some areas are more promising for buyers than others.
In particular, areas in the South and Southeast continue to be at the top of the pack when it comes to ideal markets for a home purchase, according to a WalletHub report.
The top 10 real estate markets in the report are:
- McKinney, Texas
- Frisco, Texas
- Cary, North Carolina
- Nashville, Tennessee
- Durham, North Carolina
- Gilbert, Arizona
- Charlotte, North Carolina
- Denton, Texas
- Allen, Texas
- Port St. Lucie, Florida
This list is based on 17 key indicators of housing market attractiveness and economic strength, ranging from median home price appreciation to housing affordability and job growth.