Marcus Hiles remarks that the prominent similarity between Dallas, New York and Los Angeles is that all of them have observed a rising trend in renters; even though initially it might appear that the only similarity they possess is that all three feature in the list of top ten largest towns in the U.S. The rise of renters is seen across the whole nation, with renters likely to increase to half of a million steadily till 2023. Even in Dallas, more than half, i.e. 55.9% of the residents are renters. Although tenants may have to bear higher annual costs than homeowners, the amount of money owners need to pay on maintenance and utilities is much higher.
A new report by the Data Relevance Project, communicated by the Texas Association of Realtors has indicated a 7.8 percent rise in sales in Texas for Q1 2016 as compared to the first quarter of 2015. The report provides market pointers relevant to buyers, sellers, and residential construction entrepreneurs. Property development expert based in Dallas, Marcus Hiles has expressed his views on the report.