October storms damaged or destroyed thousands of area housing units.
More than three weeks after tornadoes tore through Dallas neighborhoods, it’s still too early to gauge the impact on the local property market.
The Oct. 20 storms destroyed or damaged thousands of homes in a swath from northwest Dallas to Richardson and Garland.
The real estate markets in Houston and South Texas saw a significant impact from recent hurricane and flooding damage. The Dallas-area storms weren’t on the same scale, but there will be an impact.
Local analysts expect that the Dallas storms will result in an increase in homebuilding, property sales and apartment leasing — they just don’t know how much.
“A lot of these homeowners will have to find somewhere to live while their house is being rebuilt,” said Paige Shipp of housing analyst MetroStudy. “Some of the more affluent residents may decide to buy.
By Steve Brown
6:03 AM on Nov 15, 2019