Dallas real estate thriving

The residential and commercial real estate markets are thriving in Dallas.

It's easy to see why DD Flynn, vice president of marketing for Prudential Texas Properties, is excited about the real estate market in Dallas-Fort Worth.

The area's population growth is surpassing the national average, business professionals are moving into the area and the real estate market is posting solid returns.

"Dallas is without a doubt one of the most appealing U.S. markets in terms of real estate value gains and infrastructure growth—within both the commercial and residential sectors," Flynn said. "As business here continues to boom, the thriving post-recession Dallas economy is only expected to draw more home buyers with more cash and more of a vision for the bright future of this world-class city."

Time magazine recently called Texas "America's fastest-growing large state," and the Urban Land Institute's Emerging Trends report also said that Dallas is experiencing  faster population growth than the majority of the nation. U.S. Census data backs the claim. From 2010 to 2012, the population in Dallas has surged by 40,000, reaching more than 1.24 million.

The Emerging Trends report projected the Dallas-Fort Worth area as one of the top five cities in the nation for commercial real estate growth in 2014. Prudential Texas said the area's rising commercial real estate scene has helped fuel the residential market, as financially stable professionals look to migrate to the North Texas.

The residential and commercial real estate markets in Dallas are rising in tandem, according to a recent report from Prudential Texas.

Prudential reported that commercial growth generally signals a strong economy, which is directly tied to a robust residential real estate market.

But why are they tied together?

It's because fiscal growth in the commercial sector means monetary gains for the area's residents – along with an increase in tax dollars – which leads to more prospective opportunities for someone to have disposable income and be able to purchase a home.

Taking advantage of the market
Great Gulf Homes, a Canadian-based company that's become one of the top home developers in North America, is gearing to capitalize on the surging Dallas real estate market.

"We want to focus on cities that have a strong fundamental economy," Christopher Wein, senior vice president of sales and marketing at Great Gulf, told The Dallas Morning News. "We believe that Dallas is at a point in its evolution that there is a select market of buyers that want to live in an estate, but not necessarily a single-family estate.

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