Things keep getting a little better for potential homebuyers.
The Dallas Express reported that new regulations took effect on Saturday regarding real estate agents’ payments, following a class action lawsuit against the National Association of Realtors (NAR).
To recap, homebuyers involved in the lawsuit were worried that real estate agents were steering them toward homes that would result in higher commissions for the agents rather than homes that best suited the buyers’ needs.
Buyers will now have the opportunity to negotiate with their agents regarding the commission the agent will earn as part of the settlement. The lawsuit impacted over 60,000 businesses in North Texas.
Another win for North Texans: a recent study by WalletHub revealed that North Texas is home to four cities recognized as some of the top real estate markets in the United States.
The study evaluated 300 cities using two criteria categories, “real estate market” and “affordability and economic environment.”
Fox 4 KDFW reported that 17 different metrics were measured and graded, each scoring on a 100-point scale, where 100 represents the healthiest market.
McKinney claimed the top spot on the overall list, while Frisco came in second overall and was also number one for affordability and economic environment. Denton ranked eighth, and Allen secured the ninth position overall.
Here is more of what Fox 4 KDFW reported on the North Texas real estate accolades and where other Texas cities ranked:
The personal finance website then assessed those categories using 17 metrics which are graded on a 100-point scale, with a score of 100 defining the healthiest market, and then determined each city’s average using the 17 metrics to calculate its overall score and used the resulting scores to rank the cities.
McKinney topped the overall list. Frisco finished second, but was number one overall in affordability and economic enviornment.
Denton (8) and Allen (9) also finished inside the top 10.
WalletHub also broke out the rankings by city size.
Among large cities, Austin (3), Fort Worth (9) and Dallas (16) finished in the top 20.
Best real estate markets
- 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
WalletHub’s full list of best real estate markets can be viewed here.