Sales of houses priced at $1 million or more rose more than 12% in the year 2015 in the Dallas-Fort Worth area, according to the Texas Association of Realtors. The rate of increase in luxury home sales in the D-FW area was about twice the overall growth of preowned home purchases. Last year’s million-dollar-home sales rise in North Texas follows a 15% increase in 2014. The D-FW area had 1,088 luxury home sales during the first 10 months of 2015. The median price of luxury homes sold in North Texas was $1.4 million – the highest of any of the state’s major markets.
New York City and Dallas-Fort Worth were the two fastest growing commercial construction markets in 2015. Among the largest commercial building markets, New York City construction start volumes rose by 66 percent in 2015 from 2014 levels. And in the D-FW area construction of commercial buildings and apartments increased by 35 percent last year from the year before, according to a new report by Dodge Data & Analytics.
D-FW ranked third for total building volume with $6 billion in new project starts, behind New York with $34.9 billion in new construction and Miami at $6.3 billion.
The Mortgage Bankers Association most recently released information showed that the delinquency rate for mortgage loans on one-to-four-unit residential properties dropped to a seasonally adjusted rate of 4.77 percent of all loans. This is the lowest level since the third quarter of 2006.
More than 4,000 jobs were added at Alliance Texas in far north Fort Worth in 2015, bringing the development’s employment numbers above 45,000, a new report shows. Since it started with the opening of Alliance Airport in 1989, Hillwood Properties’ 18,000-acre mixed-used development has generated $59.69 billion in economic impact to North Texas, including $4.32 billion last year, according to an annual report presented to the City Council. 2015 was a big year for Alliance in terms of new projects, including groundbreaking on the $1 billion Facebook data center and Walmart.com’s announcement for another e-commerce center at Alliance Center North II, Hillwood said. Facebook bought 110 acres from Hillwood earlier in 2015. But by mid-December it added another 39 acres for a possible expansion beyond the planned 750,000 square feet of data center space already on the drawing board.