Dallas Boasts Top Construction Market Through Pandemic
Not even the COVID-19 pandemic could cool the scorching Dallas commercial real estate market. According to a new report from Real Capital Analytics, Inc, the region was the country’s top construction market during the pandemic. That momentum has continued into 2021 with the city boasting the country’s second-highest amount of total property investment.
“The value of Dallas construction starts grew 24% year-over-year in this period from second-quarter 2020 to first-quarter 2021 when the impact of the pandemic was most pronounced,” the report said.
Over the past year, there were 347 individual construction projects in the Dallas area. Together, these projects, comprised mostly of industrial and apartment projects, totaled nearly $17.7 billion.
Over the first quarter of 2021, Real Capital Analytics estimates that Dallas had nearly $5.8 billion in commercial real estate volume, trailing only Boston among US markets. There were an estimated 251 deals in the region.
These numbers are especially impressive considering the fact that nationwide commercial transactions were down 28 percent compare to last year. Prices across the country had also declined by nearly 8 percent.
Firms Like LiNC Commercial Real Estate have played a major role in shaping this rapidly evolving market. By combining superior expertise and unparalleled customer service, it has managed to attract an impressive portfolio of well-connected investors. All signs point to continued strong market conditions through the spring and summer months, with firms like LiNC leading the way.