DALLAS, TX--(Marketwired - July 07, 2016) - Marcus Hiles, a property development authority based in Dallas, recently responded to reports of an upswing in Texas home sales during 2016's first quarter. The release, based on statistics garnered from the Data Relevance Project, was distributed by the Texas Association of Realtors and outlined several key market indicators for buyers, sellers, and residential construction entrepreneurs. Among the document's many findings, the piece noted a 7.8 percent upsurge in the number of residences sold in the state for Q1 2016 when compared to the same quarter in 2015.
As CEO of Western Rim Property Services, a regional firm specializing in luxury subdivisions, Marcus Hiles recognizes that the Texas Association of Realtors' discoveries can help him best serve local clientele. "At Western Rim, we are constantly monitoring industry temperature and momentum to understand what our customers need most," Hiles said. "The Association's recent findings offer invaluable insight to our team regarding the current status of regional property sales. Most importantly, it proves that the state's overall real estate vertical is thriving. It's an exciting time to live in Texas."
The Association's article also points out that while residential sales have steadily increased, actual housing inventory and active listings have significantly decreased in Q1 2016 when compared to 2015. According to the report, listings fell a total of 11.9%. Additionally, the study shows that active first quarter listings spent an average of only 64 days for sale on the market, down three days from first quarter 2015.
Hiles understands how these critical factors can negatively influence buyers. However, he knows his firm's luxury rental communities can deliver a potential solution to the housing shortage. "At Western Rim, we have seen firsthand that limited options for buyers can significantly impact property value. High demand coupled with low inventory can cause a stir throughout the marketplace, quickly resulting in higher listing prices. Our clients know that Western Rim makes affordability a top priority on all of our well-appointed subdivisions. We firmly believe that residents deserve premium living accommodations at price points that won't overstretch their budgets. The results of this study will help us achieve this goal; we will continue to monitor the state's most current buying trends so we stay poised to deliver superior, affordable rental properties that make our clients' lifestyle dreams a reality".
Marcus D. Hiles owns and operates Western Rim Property Services, a Texas-based development firm that specializes in upscale rental housing solutions at economical price points. An avid philanthropist, he donates his time, capital, and other resources to various charities and organizations to make a difference throughout the region. The property developer and investor has also made his mark as a dedicated conservationist, making public parklands and green spaces an integral part of every Western Rim community.
Marcus Hiles -- Chairman & CEO of Western Rim Property Services: http://www.MarcusHiles-News.com
Marcus Hiles -- YouTube: https://www.youtube.com/channel/UCD69v3VVsYGfQsdfVO5iNow
Marcus Hiles Dallas Developer On National Boom in Luxury Apartments: http://finance.yahoo.com/news/marcus-hiles-dallas-developer-national-060815445.html
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