2014 Was A Great Year for the Texas Real Estate Market
2014 was a great year for the Texas real estate
2014 was a great year for the Texas real estate market. Records were made and the Texas real estate market continued to make its own rules. While most of the country was seeing a slow and somewhat stagnant real estate market, Texas was seeing records sales in every single real estate category across the board including new construction. It was not uncommon to see construction crews all over the state in 2014. Many people who are involved in the real estate market are wondering if this growing trend is going to last and continue into 2015. Only time will tell. Here are a couple of the best real estate happenings of 2014.
Toyota Moves to Texas
The great state of Texas just might be as American as they come, but that did not stop the automotive giant Toyota from moving its headquarters out of California and into a comfortable home in north Texas. Property in north Texas instantly went up in value. The move should bring 4000 jobs to the area. This will help stimulate growth on all accounts.
The Single Largest Real Estate Transaction for 2014
The largest real estate transaction for the great state of Texas came in for an estimated 200 million dollars. This skyscraper was originally built in the early 1980s. What was it? The 1.2 million square foot Fountain Place office tower. It was purchased by an Atlanta based investment group. They have plans to remodel this huge Dallas real estate icon.
Home Values Increase
While not all Texas cities saw an increase in residential property values, there was one area where residential values saw a good rebound. Residential properties in the Dallas Fort Worth area have risen approximately 15% since the bottom fell out of the real estate market way back in 2007. Will the values continue to rise in 2015 and beyond? Many analysts believe they will indeed.
This is all very good news for anyone who is lucky enough to own a piece of property in the great state of Texas. While the real estate market in the rest of the country struggles to rebound from the recession, Texas is making its own rules.