East Dallas is a vibrant community, known for its strong local spirit and thriving real estate market. This week, we dive into the latest news shaping this dynamic region and the broader North Texas landscape. Discover which dedicated realtors and visionary designers have been recognized for their exceptional contributions to East Dallas, gain insights into the current state of North Texas home sales compared to statewide trends, and explore the robust job growth propelling the Texas economy forward. Join us as we uncover the stories of community champions, analyze crucial market data, and shed light on the economic forces at play in our latest real estate news roundup.
Honoring East Dallas’s Pillars: Community & Real Estate Excellence
The Greater East Dallas Chamber of Commerce (GEDCC) recently celebrated its annual Business Awards Luncheon, an event dedicated to recognizing individuals and businesses that significantly impact the local community. Held on Tuesday, August 21, at the prestigious Lakewood Country Club, the luncheon was a testament to the thriving entrepreneurial spirit and deep community roots within East Dallas. Among the evening’s most anticipated accolades was the Live Local Award, presented to outstanding small businesses or small business owners who exemplify leadership, support, and a commitment to giving back to the community.
This year, two prominent real estate professionals were proudly recognized with the coveted Live Local Award: Nancy Wilson of Coldwell Banker Real Estate and Ben Lauer of Lauer Real Estate Group. Their long-standing dedication and impactful contributions to the East Dallas area underscore the crucial role local realtors play not just in property transactions, but in fostering a strong, interconnected community.
Nancy Wilson, a distinguished Realtor with Coldwell Banker for over two decades, has an impressive track record of community involvement that spans various facets of East Dallas life. Her commitment to local education is evident through her extensive participation in several PTA organizations, including the Lakewood Early Childhood PTA, St. Thomas PTA, Lakewood Elementary PTA, and serving as president of the William B. Travis PTA. She also dedicated her time as a cheer parent at Woodrow Wilson High School and contributed to the site-based decision-making committee at Woodrow. Beyond education, Wilson’s passion for community safety led her to found and chair the Lakewood Crime Watch, a vital initiative for neighborhood security. She was also an original member of the White Rock Lake Conservancy, advocating for one of Dallas’s most cherished natural assets. Her civic engagement extended to serving on the City of Dallas police review board and Safer Dallas, leading to her being named Volunteer of the Year for city council district 9. In a remarkable display of compassion, Wilson founded the Woodrow Wilson High Peace Pantry, providing students with healthy snacks, meals, and gently used uniforms, addressing critical needs within the school community.
Ben Lauer, another deserving recipient, launched his independent brokerage in 2012, building on a real estate career that began in 2006. He later joined Keller Williams, bringing his wealth of experience and community focus to a broader platform. Lauer is a founding member of the 100 Men of East Dallas, a philanthropic group that has donated over $8,000 to various local charities, demonstrating his commitment to supporting the less fortunate in the area. His leadership extends to the GEDCC itself, where he serves on the board of directors and is an active member of its legislative affairs committee, shaping policies that benefit local businesses. Furthermore, Lauer was a founding member of the East Dallas Young Professionals, an organization that has since evolved into Business Networking, continually fostering professional connections and growth within the community. His entrepreneurial spirit combined with his dedication to civic betterment makes him a true asset to East Dallas.
The awards ceremony also celebrated other distinguished individuals. Kathy Fielder of Kathy Fielder Design-Life-Style was honored with the R. S. Munger Business Pioneer Award. This prestigious award recognizes individuals with strong business or community ties to East Dallas who are engaged in technological, creative, or business innovation. Fielder, a renowned lifestyle and design expert, blogger, TV host, and entrepreneur, embodies innovation. Her influence in the design world was recognized when Fashion Group International nominated her as a Rising Star in the interior design category in 2017. She has also been named Entrepreneur of the Year by Women That Soar, cementing her reputation as a formidable leader in her field. Additionally, John Botefuhr of Adjust Chiropractic also received the Live Local award, further highlighting the diverse range of community contributors. Other notable award recipients included La Popular Tamale House for the Jeb Hensarling Business of the Year Award, Youth Believing in Change for the Chairman’s Award, and White Rock Alehouse & Brewery for Entrepreneur of the Year, collectively showcasing the rich tapestry of success and service in East Dallas.
Navigating the North Texas Housing Landscape: Summer Market Insights
The summer months often bring shifts in the housing market, and July’s data for North Texas and the broader state of Texas offers compelling insights into the current real estate climate. According to the latest monthly index from HomesUSA.com, the new home sales pace in Dallas-Fort Worth (DFW) remained notably stable last month. While stability can be a positive sign, a closer look at statewide figures reveals a nuanced picture.
HomesUSA reported that new home sales across Texas were generally on an upward trajectory, with both Austin and San Antonio experiencing increases. However, Dallas-Fort Worth, which typically leads as the state’s largest and most dynamic new homes market, registered a slight decline in new home sales for July. This subtle dip in DFW, following a period of sustained strength, warrants attention from both buyers and sellers.
Realtor Ben Caballero, owner of HomesUSA.com and a Guinness Book Record holder for his impressive sales volume, offered his expert perspective on these trends. “Despite the fact that Houston’s sales pace continues to slow, there is still strength in their new homes sales numbers,” Caballero remarked. “Houston’s average new home price is up for the second month in a row as are its total new home sales. What’s somewhat surprising is that Dallas-Ft. Worth, which has posted the strongest numbers in the nation month after month, has shown its first soft numbers in quite some time.” Caballero’s observations highlight Houston’s surprising resilience in prices and total sales, even as its sales pace moderates. The slight softening in DFW, while minor, marks a shift from its previously unrelenting growth, suggesting a potential normalization or adjustment in market dynamics.
Analyzing the raw numbers, new home sales in DFW experienced a marginal decrease from 1,340 units in June to 1,333 in July. Conversely, statewide new home sales saw a positive bump, climbing from 3,719 in June to 3,745 in July. This contrast underscores DFW’s unique market position within the larger Texas real estate landscape, where other metros are still seeing growth in sales volume.
Beyond sales volume, other key metrics provide a clearer picture of market health. DFW maintained remarkable stability in its Days On Market (DOM), with new homes spending an average of 115 days on the market from June to July. This consistent DOM suggests a balanced pace, where homes are selling without undue delays. Statewide, the DOM also remained steady at 128 days, indicating a consistent selling period across Texas. Average new home prices continued their upward trend. Statewide, prices rose from $350,941 in June to $352,409 in July. In DFW, the average new home price climbed from $361,817 to $364,522 during the same period. These price increases, coupled with stable DOM, suggest a healthy and appreciating market, even with the minor sales volume dip in DFW. This continuous rise in average home prices in both DFW and statewide indicates sustained buyer demand and underlying market strength, making it an attractive environment for both homeowners and investors.
Texas Economic Engine: Unpacking Job Growth Across Metro Areas
Texas continues to be an economic powerhouse, and the latest data on employment growth further solidifies its position as a national leader. The monthly review by the Texas A&M University Real Estate Center offered a comprehensive analysis of job market trends, with particular focus on year-over-year figures for July.
The Dallas-Plano-Irving metropolitan area showcased impressive performance, ranking second statewide in employment growth for July, with a robust increase of 3.6 percent compared to the previous year. While this is a significant achievement, it trailed a distant second to the top performer, Midland, which boasted an astounding 9.8 percent growth. This stark difference often reflects the unique economic drivers of each region, with Midland’s growth likely fueled by the energy sector. Fort Worth-Arlington also demonstrated healthy growth, tying for eighth place at 2.6 percent. Encouragingly, the report revealed a widespread positive trend: nearly all Texas metro areas, with the exceptions of Corpus Christi and Victoria, successfully created more jobs in July 2018 compared to July 2017, signaling broad-based economic expansion across the state.
When assessing the shares of total Texas jobs in July 2018, the Houston area maintained its dominance, holding the largest proportion of jobs statewide. The Dallas-Plano-Irving area secured a strong second place, accounting for over 21 percent of all jobs in Texas, underscoring its significant economic footprint. Fort Worth-Arlington also played a substantial role, coming in fourth with a little more than eight percent of the total jobs. These figures illustrate the concentrated economic activity within Texas’s major metropolitan hubs.
Overall, statewide jobs grew at a commendable rate of 3.086 percent year over year. The Dallas-Plano-Irving area contributed a substantial 0.7463 percent to this overall growth, while Fort Worth-Arlington added 0.2177 percent. These contributions highlight the DFW metroplex as a primary engine driving Texas’s impressive employment expansion.
Regarding unemployment rates, the statewide average for July 2018 stood at a healthy 4 percent. Both Dallas-Plano-Irving and Fort Worth-Arlington performed even better, ranking 11th and 12th respectively, with unemployment rates of 3.6 percent and 3.7 percent. These lower-than-average unemployment figures indicate strong local labor markets and robust economic health within the DFW region, providing stability and opportunities for residents.
Digging deeper into sector-specific growth reveals distinct drivers for different areas. Mining and construction jobs were the primary contributors to employment growth across almost all of Texas. In the Dallas area, this sector alone accounted for an impressive 9.23 percent of the total job growth, reflecting significant investment in infrastructure and development. However, Fort Worth presented a different picture, with the bulk of its employment growth, nearly 7 percent, stemming from the leisure and hospitality industry. This divergence illustrates the varied economic landscapes within Texas’s major metros, where Dallas leans into industrial and infrastructural expansion, while Fort Worth thrives on its vibrant tourism and service sectors. Such diversification strengthens the state’s overall economic resilience.
The latest real estate and economic reports paint a clear picture of a dynamic and growing Texas. East Dallas continues to foster a strong sense of community, supported by dedicated professionals like Nancy Wilson and Ben Lauer. The North Texas housing market, while showing slight adjustments, maintains its underlying strength with stable prices and reasonable Days On Market. Furthermore, the impressive job growth across the Dallas-Plano-Irving and Fort Worth-Arlington areas confirms the region’s position as a robust economic hub. These converging factors create an optimistic outlook for residents and businesses across the Lone Star State.