Housing report

This Dallas-Fort Worth ZIP code boasts one of hottest housing markets in U.S.

The zip code 75060 is hot, hot, hot for buyers.

Photo by Paul Bradbury/Getty

Irving can brag that it’s home to eight Fortune 500 companies, although that number will drop to seven once ExxonMobil relocates to Houston. Now, the Dallas-Fort Worth suburb can also crow that it’s home to one of the hottest ZIP codes in the country for homebuyers.

A new list from Realtor.com puts Irving’s 75060 ZIP code at No. 44 among the hottest U.S. ZIP codes for purchasing a home. Only one other Texas ZIP — 50th-ranked 79934, in the El Paso area — appears in the top 50.

Hannah Jones, a research analyst at Realtor.com, explains that 75060 offers homebuyers “affordability within a half-hour commute of both downtown Dallas and downtown Fort Worth, a sought-after amenity as home prices, mortgage rates, and inflation soared this year.”

Jones notes that in June, the median home price in 75060 was $338,500, which was more than $100,000 below the median home price across DFW.

Almost three-fourths of Realtor.com visitors who viewed home listings in the first half of this year in 75060 were from DFW, according to Jones. Further underscoring the popularity of 75060, homes in the ZIP code were viewed 1.8 times more often than a typical listing in DFW and spent one week less on the market than other listings in the metro area.

About 50,000 people live in the 75060 ZIP code, which is bordered by Rock Island Road to the north, the West Fork of the Trinity River to the south, the Elm Fork of the Trinity River to the east, and South Belt-Line Road to the west. Within the ZIP code are Irving Lake, the Irving Golf Club, Running Bear Park, Nimitz High School, and Irving ISD’s Joy and Ralph Ellis Stadium.

Last year, Realtor.com featured two different Texas ZIP codes in its annual ranking of the country’s 50 hottest ZIP codes: 78754 in Austin (No. 19) and 75025 in Plano (No. 20).

To come up with the 2022 list, Realtor.com analyzed listing data for more than 29,000 ZIP codes across the country. Researchers looked at the number of unique viewers per home on Realtor.com from January through June and the number of days a listing remained active on Realtor.com during that period. The website limited the top 50 to one ZIP code per metro area and to ZIP codes with at least 15 active monthly listings.

The 14618 ZIP code in Brighton, a town near Rochester, New York, topped the 2022 ranking.

“As a result of rising inflation and higher costs for housing and everyday expenses, homebuyers have set their sights on areas that offer good bang for their buck, making value a key theme among this year’s hottest ZIPs,” Realtor.com says.

BUILDING BOOM

Dallas ranks No. 22 among U.S. metros for new-home construction

Photo by Ryan Stephens/ Pexels

San Antonio-New Braunfels leads Texas in new home construction.

As the population of the Dallas-Fort Worth metro area continues to grow, so does the need for housing. One of the primary ways to address this: Build more homes.

The region appears to be on the right track for addressing the booming demand.

A new report from Realtor.com puts the DFW at No. 22 among the top 25 new-construction metros in the U.S.

To develop the list of the top new-construction metros, Realtor.com looked at four factors in each of the 100 largest U.S. metros:

Newly constructed homes as a share of all listings.
New-construction premium. That’s the percentage difference between a median-priced new build and a median-priced existing home.
Climate risk difference. That’s the percentage difference in average flood, fire, air quality, wind, and heat risk between new builds and existing homes.
“Hotness” of the new-construction market, based on Realtor.com pageviews per listing and median time on the market for new builds.

Sun Belt markets dominate rankings
Of the top 25 metros in the Realtor.com report, 20 are in Sun Belt states.

“New construction is one of the most important ways to expand the supply of homes available to buyers, but the opportunity is not evenly distributed across the country,” Joel Berner, senior economist at Realtor.com, said in a release.

“This year’s ranking shows that Southern metros are not only building more homes; they are also creating conditions where buyers can find newly built homes at prices that compete with, and in some cases beat, existing homes,” said Berner.

Dallas joined Texas’ three other major metros in the top 25:

San Antonio-New Braunfels, No. 14
Austin, No. 16
Houston, No. 20

More reasons for homebuyer optimism
The greater Dallas area is home to some of the hottest real estate markets in the country - especially the suburbs of Frisco, McKinney, Allen, and Denton

Dallas also fares well when it comes to new-home prices. In a recent Realtor.com analysis, the DFW metro ranked eighth for the largest share of builders slashing prices on new homes. Austin landed at No. 5 and San Antonio at No. 3 among the 100 largest U.S. metros.

The Realtor.com rankings arrived as Dallas-Fort Worth nears the prime time for homebuyers to score a deal. A recent report from real estate brokerage Redfin found mid-September reigns as the best time for homebuyers to land a deal in North Texas.

Adding to the attractiveness of buying a home in DFW: Personal finance website SmartAsset recently ranked Texas as the 18th best state for under-35 buyers.

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