North Texas Real Estate Update

The Dallas-Fort Worth area continues to be a major destination for those relocating from across the country. According to the latest U.S. Census Bureau report, DFW’s population grew by 177,922 from July 2023 to July 2024, bringing the total to approximately 8.3 million residents. While the metro area previously led the nation in annual growth, it now ranks third behind New York and Houston. Despite this, nearly 500 people per day moved to North Texas over the past year. Collin County experienced the most significant increase, adding 46,694 residents to reach a population of 1.25 million. Tarrant County followed with an increase of 32,793, bringing its total to 2.23 million. Dallas County saw a more modest rise, reaching 2.65 million. Statewide, Texas' population grew by over 562,000, reinforcing projections that DFW could surpass the Chicago metro area (currently 9.4 million) as the third-largest U.S. metropolitan region within the next decade.

Business Expansion Fuels DFW’s Economic Strength

Texas remains a national leader in corporate investment, with DFW playing a key role in that success. Site Selection Magazine awarded Texas the top spot for corporate investment projects in 2024, with 1,368 new projects—489 of which were in DFW, accounting for 36% of the state’s total. The number of corporate investments in Texas grew by 9% compared to 2023, and DFW exceeded its previous year’s numbers by 37 projects. The Governor’s Cup, which tracks significant economic developments, measures projects meeting at least one of the following criteria: a $1 million minimum investment, at least 20,000 square feet of new space, or the creation of 20 jobs. Additionally, Dallas was recently named the No. 1 destination for corporate headquarters relocations, solidifying the region’s position as a business powerhouse.

North Texas Sees Continued Residential Expansion

With population growth comes an increased demand for housing, and developers are responding with large-scale community projects across North Texas. One of the newest developments, Burks Ranch, is set to bring over 2,000 homes to Grayson County, just north of Pilot Point. Green Brick Partners, a Plano-based homebuilder, will develop the community on nearly 600 acres, featuring a resort-style pool, parks, trails, and a nature preserve. Infrastructure and utility work will begin first, with home construction expected in 2027. The extension of the Dallas North Tollway has made northern Denton and Grayson counties more accessible, making communities in these areas even more desirable for homebuyers. Green Brick Partners is already well-established in the region, having acquired more than 500 acres in northern Denton County last year for another 2,000-home project.

To the east of Dallas, Southside Hills is another major development in the works. Planned by Corson Cramer Development, this Rockwall community will span nearly 240 acres south of Interstate 30. It will feature just under 400 homes on lots ranging from 62 feet to one acre, with home prices starting at around $500,000 and exceeding $1 million. Pre-construction and site work will begin in the coming months, with the first homes anticipated for completion in early 2027. Rockwall continues to be a highly competitive market, with nearly 130 homes selling in this zip code in just the last quarter of 2024.

What This Means for Buyers and Sellers

With steady population growth, a strong job market, and ongoing real estate development, DFW remains one of the best places to buy or invest in a home. Whether you’re considering a move, an investment, or selling your current property, now is a great time to explore your options.

Michael G. Johnson Real Estate is here to help you navigate the ever-changing North Texas market. Let’s connect and find the right opportunity for you.