Now who said real estate activity in DFW is at an all-time low? Well not in one northern suburb, that’s for sure. The Frisco new home market is experiencing a growth that has builders scrambling to get permits for new lots in their communities. This increase in new contracts over the past couple months shows me signs of buyer confidence and the fact of low interest rates slowly rising.
Meritage Homes last year had 694 annual closings for the entire company (which includes Monterey and the Legacy Home brands). Their salesperson shared that since January 15, 2011 there have been 28 contracts written in their community in Frisco called Village Lakes. Landon Homes in Austin Ridge shared that they, too, were gearing up for summer — turning in 15 permits to the city in one day this week.
From another aspect, Steve Brown of The Dallas Morning News reports that starts drop in first quarter of 2011. Seriously, where do they get this information from? Regardless of these reports, my research tells me Frisco homes are selling better than any other area in DFW.
Three of the hottest new communities are on the Horizon in Frisco. Phillips Creek Ranch, Richwoods and Lawler Park are going to keep developers, builders and buyers busy for the next decade with these three!!!!