Dallas residential property management companies are excited about the recent economic improvements throughout the state of Texas. In September 2016, the state experienced over 38,000 new jobs created mostly in the service and construction industries, and housing trends remained positive; a high note for property managers in Dallas.
While housing demand in September grew moderately, with housing sales increasing 1.9% year-over-year, sales growth in the Dallas-Fort Worth Metroplex have slowed following a recent expansion. Building permits issued for single-family dwellings throughout the state have also slowed, however, Dallas-Fort Worth is still the nation’s leader for the number of single-family permits issued on a month-to-month basis.
With the continued job growth throughout the state, the unemployment rates have dropped below the national averages, while the employment growth rate has surpassed the national average.
What Do These Figures Mean for Property Managers in Dallas?
With the continued job growth happening throughout the state being led by jobs in the Dallas-Fort Worth Metroplex, Dallas property managers can expect increased demand for rental homes as new employees move to the area. As long as the job market continues to grow, Dallas property managers should have no shortage of tenant applications for their properties.
Housing demands are also a positive factor for property managers in Dallas. As the national leader for single-family homebuilding permits being issued on a monthly basis, Dallas residential property management companies have a unique opportunity to purchase new homes to offer to potential tenants.
What to Expect From Dallas Residential Property Management Companies
Whether you are new to the world of property management, or a seasoned investor, your property management business would benefit from using a professional management company. As a national company, Specialized RPM has over 25 years experience and thousands of satisfied customers. We offer a comprehensive spectrum of services to help you with the aspects of property management that cause you headaches and put you on the fast track to success. If self-managing has become a struggle, contact our Specialized RPM today.
More statistics and economic outlook information can be found www.recenter.tamu.edu