Judging by a new ranking, the Texas housing market is hotter than a sweltering summer day. Ten of the nation's top 40 real estate markets are in the Lone Star State.
To determine 2018's best real estate markets in the U.S., personal finance site WalletHub compared 300 cities of various sizes across 22 key indicators of attractiveness and economic strength for housing markets. The data ranged from appreciation of home prices to local job growth.
The North Texas trio of Frisco-McKinney-Allen was tops though, claiming the first through third spots, respectively. North Texas neighbors Richardson (No. 7) and Denton (No. 10), also made it into the top 10.
San Antonio ranked No. 173, which isn't exactly a sparkling spot for the South Texas city. Among Texas' biggest cities, it came in third among the major cities behind Austin and Dallas, but ahead of Houston.
Bill Head, a spokesman for the MetroTex Association of Realtors, says the housing markets in Frisco, McKinney, Allen, and Richardson — the top four Texas communities on the WalletHub list — all have benefited from growth around State Highway 121 and the Bush Turnpike.
“The affordability of homes in those four areas is key to why they are attractive to homebuyers,” Head says. “That could be said in countless other communities around DFW, but the combination of both business and residential development in those areas cannot be understated.”
In other state's other major markets, Austin ranked No. 36 in the U.S., followed by Dallas (No. 84) and Houston (No. 215).