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Dallas-Fort Worth ranks 2nd nationwide for real estate investors

North Texas is looking pretty, pretty, pretty desirable to outsiders. Photo: HUM Images/Universal Images Group via Getty Images Dallas-Fort Worth is projected to be one of the top real estate markets in the country in 2023, behind only Nashville. Driving the news: Dallas rose to the second spot from last year's seventh-place rank, according to the newly released produced by the Urban Land Institute and PricewaterhouseCoopers.The Dallas area also ranks sixth in homebuilding prospects next year. Why it matters: Investors are flocking to the Sun Belt markets, including Dallas, Austin, Houston and Atlanta, as opposed to the colder, more-established cities in the north, such as Chicago. They aren't drawn to the warmer weather but to the population growth and lower housing prices. Yes, but: Real estate investors worry about climate change and rising temperatures, pointing to the increase of billion-dollar storms. The report mentions five "once-in-1,000-year storms" this summer, including . Details: More than 2,000 real estate professionals were interviewed for the annual report, which had a mostly positive outlook on 2023, despite and concerns about . High amounts of construction in D-FW will likely slow the fast increase in rental costs, the report says. Hybrid work has brought workers to offices about three days a week nationwide, and up to 20% of existing office space may need to be repurposed. The bottom line: Dallas, like other Sun Belt cities, after the height of the pandemic than other cities. Get more local stories in your inbox with .Subscribe Support local journalism by becoming a member.

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