Real Estate Blog

Category: DFW Real Estate News

  • US Housing Market Crash: Why So Many Realtors Are Quitting

    The slowdown in the housing market, mostly caused by the COVID-19 pandemic five years ago, has taken a toll on real estate agents. The rising mortgage rates and economic hardships drove most potential buyers away from buying homes, causing agents, who live on commissions, to struggle to keep their businesses afloat.

    According to the Federal Reserve Bank of St. Louis, the number of full-time real estate agents and brokers was around 543,000 before the pandemic in 2019. That figure declined to 524,000 by 2021 and 512,000 by 2022. The decline accelerated in 2023 with only 440,000 agents remaining, and by 2024, that number dropped again to 398,000. These are the lowest levels since 2013, far from the over 504,000 agents at the start of the financial crisis.

    In addition to economic factors, AI is changing the real estate industry. More people are using websites and apps to buy and sell homes without real estate agents, the industry is being disrupted. Online platforms offering home valuations, virtual tours, and market analysis are becoming more popular and downplaying the role of real estate agents as intermediaries.

    Accordingly, the number of brokers and agents that are full-time has declined from its pandemic-era peak. Both regulatory reforms and tech disruption are responsible for this transformation.

    Adding to the pressure, dozens of lawsuits have been filed against the National Association of Realtors (NAR). NAR settled with plaintiffs in March 2024 for $418 million for complaints that it required home sellers to offer big commissions to agents representing the buyers under the “cooperative compensation” practice of NAR. NAR changed rules under the settlement terms that forbade sellers from including the offer of commissions for agents representing the buyers within the terms of the property for sale.

    Emily Oster, Founder of DALTX Real Estate, says this is part of a larger industry trend. “It’s the new era that agents have to be more flexible and focus more on niche areas,” she said. She cited the necessity for agents to leverage tools like AI for finding leads and processing transactions as the most vital tools for future agents.

    Real estate agents need to adapt and thrive in the changing real estate market. With so many property websites available now, sellers and buyers are increasingly able to find homes on their own, without needing an agent. Agents who don’t keep up with the changes will be left behind. Future agents will need to specialize in market analysis, finance, and developing strong negotiation skills. While the tech streamlines the transactions’ process, agents are still valuable trusted advisors.

  • Check Out What’s Coming to the Old ‘Leaning Tower of Dallas’ Spot

    Big news for everyone who’s been keeping an eye on that spot where the ‘Leaning Tower of Dallas‘ used to be – it’s getting a major makeover. De La Vega Capital Development is turning this spot into The Central, a new spot that’s looking to give Uptown a run for its money. And y’all, it’s right in the heart of East Village, which is about to get a whole lot livelier.

    So, where’s all this happening? Right off Haskell Avenue and U.S. Highway 75. They’re planning to spread this out over 27 acres, just north of where you’d pop into Cityplace Tower or hit up Target store. It’s pretty close to Uptown and West Village, where there’s always something going on. But with this new project, East Village is set to be the next big thing in Dallas.

    They’re planning a four-acre park right in the middle of it all, which they’re hoping will become a new hangout spot with shops, restaurants, and apartments. “We’re not just building a place to live and shop. We’re creating a community vibe that you’d typically see in places like New York City, where every neighborhood has something cool to offer,” said Artemio De La Vega, the CEO, at a talk he gave recently.

    Remember that half-torn down building that became a selfie hotspot overnight? That’s where all this is going down. After it finally came down, they’ve been plotting to turn the area into something special. And it sounds like they’re really thinking about what makes a place great to hang out – not just for the locals but for everyone in Dallas.

    The plans are pretty ambitious. They’ve got everything from apartments and offices to shops and a hotel in the pipeline. Groundbreaking kicked off last fall, and they’re hoping to start opening parts of it by next summer.

    Annmarie De La Vega, who’s helping run the show, said, “We’re really excited to see how this whole area along Haskell and East Village is going to come alive. It’s going to be a game-changer for sure.”

    So, keep your eyes peeled, Dallas. The Central might just be your new favorite spot to chill, shop, and live.

  • Weidner Apartment Homes Acquires Monterra Village in Fort Worth

    Weidner Apartment Homes, based in Kirkland, Washington, has purchased Monterra Village, a 550-unit apartment complex located in Fort Worth’s fast-growing Alliance Town Center. The property, sold by Hillwood Multifamily, a division of Hillwood, closed on December 18 for an undisclosed amount. Monterra Village spans 35 acres and includes 541,000 square feet of rentable space, offering 1-3 bedroom apartments and townhomes.

    Weidner’s acquisition is part of its strategy to expand its portfolio, now totaling over 6,100 units across the U.S. The company is expected to upgrade the apartment interiors, similar to other projects, to boost rental income. Fort Worth’s rising population and strong demand for multifamily housing make this a promising investment.

    The Alliance Town Center development surrounding Monterra Village includes over 1 million square feet of retail, office, and restaurant space, as well as two hospital campuses. This growing area offers significant potential for real estate growth, making it an attractive market for investors.

  • Experts Say Dallas-Fort Worth is No. 1 for Real Estate Potential

    Source: bizjournals.com

    The Dallas-Fort Worth metro ranks as the top emerging real estate market across the United States and Canada, with the highest investment and development potential.

    That’s according to the 2025 Emerging Trends in Real Estate report from the Urban Land Institute and PricewaterhouseCoopers. The closely watched annual report compiles data from more than 2,000 industry experts who are surveyed to “highlight the most pressing topics shaping the commercial real estate landscape.”

    DFW ranked as a top real estate market in part due to its healthy recovery from the pandemic, a diverse economic base and a growing population that supports continued real estate investment. The Metroplex last topped this list in 2019. It’s floated among the top few spots in the past three years and consistently ranked in the top 10 for the past six.

    For its 46th edition, the report predicts the real estate market is on the cusp of the next cyclical upturn, as inflation begins to ease. That contrasts with last year’s theme, “The Great Reset,” suggesting the industry must establish new norms in a post-pandemic world and will require investors must envision a different future if they want to survive.

    “The skies are finally clearing over commercial real estate markets, even if some dark clouds still linger,” the 2025 report says. “Industry people are more sanguine than a year ago, though also realistic. Better times are ahead, but the healing will take time.”

    Overall, the report states that market recovery is projected to be slow and gradual. The Federal Reserve’s decision this summer to implement a half-percentage point rate cut contributed to this outlook change in the commercial real estate market.

    “While challenges persist across the real estate sector, there are signs of improvement after years of hardship,” Andrew Alperstein, a partner with PwC’s U.S. real estate practice, said in a statement. He added that industry optimism has grown in the past year.

    The Sun Belt continues to rank highly. The other top four markets were either in Texas or Florida. Miami ranked No. 2, followed by Houston and Tampa-St. Petersburg. More widely, the “Super Sun Belt” accounted for 13 of the top 20 markets this year.

    Demographics are also a strong suit for greater Dallas. DFW is the most populous metro region in Texas and the fourth largest in the country, on track to replace Chicago as number three this decade.

    Additionally, DFW is home to 23 Fortune 500 headquarters and is known for attracting businesses from a variety of sectors, including insurance, telecommunications, technology, energy, health care, and logistics.

    “This combination of affordability, growth, and economic diversity should continue to attract new residents and businesses to DFW,” the ULI/PwC report says.

    This favorable ranking comes on the heels of a JLL report that found zero major office groundbreakings across DFW in the third quarter, the first time that has happened in more than a decade. But Dallas is far from alone in this matter and a reduction in inventory could actually help leasing.

    The report also noted favorable trends in major coastal markets. For example, New York climbed to No. 11, up from No. 31 last year.

    This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.