Frisco landed at the top spot of WalletHub's list of "Healthiest Housing Markets" in the U.S.
The Texas city of Frisco landed at the number one spot over the 25 cities in the list of "Healthiest Housing Markets," reports the Dallas Morning News. WalletHub's ranking compared 300 cities across the U.S. based on 14 key metrics which included median home-price appreciation, home price as a percentage of income, job growth, and other factors. Aside from landing the top spot, Frisco was also identified as the city with the top job market, the second-best in median home-price appreciation and the third-best ranking in percentage of mortgage holders in delinquency.
The Dallas Morning News report also cited other North Texas cities that made it with the top 60 list of "Healthiest Housing Markets" such as Irving, Fort Worth and Grand Prairie. These Texas cities nabbed the 39th, 46th and 58th spots, respectively. Meanwhile, other Texas cities who made it to the list includes Arlington (67th), Garland (79th), Dallas (99th) and Mesquite (130th).
The news site also noticed that seven cities in the Dallas-Fort Worth Metroplex were also included in the top 25 "Healthiest Housing Markets." Aside from Frisco, these cities are Allen, Plano, Carrollton, McKinney, Richardson and Denton. All-in-all, the WalletHub list identified 21 Texas cities in its 300 U.S. cities ranking.
Meanwhile, the housing market is reportedly back on its feet, as stated by WalletHub. The site cited several factors that would support this such as the unemployment rate which is now on its seven year low of 5.3 percent. A rate which reportedly is within the 5.0 percent to 5.5 percent range that economists is said to consider as consistent with full employment.
To add to those factors, rent prices are surging upwards and consumer confidence has reportedly increased. This, states WalletHub, may "encourage lenders to open doors to more first-time home buyers." The site also took note of Nationwide's report, an insurance company, who stated that "the overall housing market is healthier than at any time since 2001."
