Dallas rental market cools down?

Question

Any one from DFW notices slow down in rental market? Had a townhomes that always rent out in a month , but starts getting no serious applications this year at same price...Not sure if it is a sign of overall market, or just seasonal for my neighborhood. Any thoughts?

Melissa Johnson · Answer

I guess the good thing is, Dallas is not laying off much. More like adding 1000 new jobs a month. massive growth. Which is great for economy, horrible for my stress level during rush hour.

Melissa Johnson · Answer

From experience of someone moving back to Plano from out of town, multi family in the area is insane. I was quoted $1600 for a small one bedroom in Frisco, only because it had a small yard for my dog to potty when its raining. I can get a house with a large yard and a lawn man for $1600.00. As the growth is great for our economy, you could not pay me to actually own a house though, in Collin County. Now with the tax increases. I dont think its really slowing down though. I think its taking a breather.

Shannon Slade · Answer

We haven't noticed here on the east side of Dallas that things are slowing.  Rented out two houses this past month with a 25 potentials and weeded down to two tenants in two days each home, while raising the rental price.  Hope it picks up for ya'll!!

Michael Lee · Answer

thanks for all the responses. I kinda feel multi family is going to over supply in the coming years, considering still so many constructions going on around DFW. I was thinking to increase my portfolio in multi-family, but now looks just owning a unit/ several units of a complex will not get the economic scale but just increase the difficulty of marketability compared to SFH. anyone has portfolio in both in DFW and would like to share the experiences?

Rocky V. · Answer

I'm glad we are at 100% occupancy but not good news for the flips in progress.  Buy low enough and you can make money in any market.

Bart H. · Answer

I am getting the sense that real estate is slowing around here.  I have a property on the market that we are having a little trouble selling, the showings have been a little slower than my real estate agent had hoped.  And her sense is that its slowing amongst everyone in her office.

Kim Meredith Hampton · Answer

@Michael Lee I hear and see it overall. There is a lot of inventory, people staying put and companies are laying off and tightening their belts. It's a vicious circle, but in the end people still can't come up with down payments for houses, banks aren't lending like they used too. This all boils down to that it is a renters nation! Hold on, it normally takes 30-60 days now for occupancy