Shooting in Mall in Allen, Dallas, Texas, and The Dallas Housing Real Estate Market

Several people have been hospitalized in the Allen suburb of Dallas, Texas (TX) after a shooting on Saturday, May 6, 2023.

The shooting occurred in the afternoon at the Allen Premium Outlets mall.

The Medical City Health Care, a hospital system in the Dallas area, reported it was treating about eight (8) people between 5 and 61 years of age.

WFAA reported that the shooter was “neutralized’ by an officer.

Congressman and Texas Representative Keith Self for the 3rd Congressional District, including Collin County, Texas, spoke about the shooting.

Texas State Representative of House District 67, which consists of parts of Plano, Allen, Richardson, and Dallas in Collin County, Jeff Leach, showed support.

Texas Governor Greg Abbott made a statement about the shooting.

The City of Allen Mayor Ken Fulk and Steven C. McCraw, Executive Director and Colonel of the Texas Department of Public Safety, assured that necessary resources would be available.

The City of Allen Fire Chief Jonathan Boyd confirmed that nine (9) people died.

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Dallas Housing Real Estate Market

In the Dallas housing real market, building permits and housing projects have declined, and homes for sale are low.

Home value in the Dallas-Fort Worth Arlington, Texas (TX) area has increased by approximately 5.5%.

Even though house sales declined and house prices have increased, there is still demand for houses in the Dallas-Fort Worth-Arlington area.

In January 2023, the median price increased from approximately $350,000 to $380,000.

The average house sale price increased from over $435,000 to over $465,000.

The homes stay longer on the market before selling.

As more young individuals migrate to Dallas, Texas, renting has become more cost-effective than buying, as new residents prefer to rent than purchase their own homes.

Consequently, the demand for rental units has risen by over thirteen percent (>13%) over a year.

The United States (U.S.) Census Bureau, Permits by Metropolitan Area, showed that in March 2023, The Dallas-Fort Worth-Arlington area in Texas had the fourth (4th) number of new privately owned housing units authorized, just behind Houston –The Woodlands-Sugarland area in Texas (TX), New York-Newark-Jersey City areas in New York (NY), New Jersey (NJ), and Pennsylvania (PA), and Phoenix-Mesa-Chandler area in Arizona (AZ) in the United States (U.S.).

Year to March 2023, The Dallas-Fort Worth-Arlington area in Texas had the second-highest number of new privately owned housing units authorized in the U.S.?

The Houston-The Woodlands-Sugarland area in Texas had the highest number of new privately owned housing units authorized in the U.S.???

In the City of Dallas, Lake Highlands, Cedar Crest, and Oak Lawn are considered some of the best neighborhoods.

The Dallas housing real estate market is a seller’s market as more people are searching to buy homes than houses on sale.

Preston Hollow and Lakewood in Dallas, Texas, are considered the most expensive, as the median listing home price was approximately $1.9 million.

Pleasant Grove in Dallas, Texas, is considered the most affordable as the median listing home price was approximately $235,000.

From February to April 2023, over eighty percent (>80%) of homebuyers in Dallas, Texas, wanted to stay in the metropolitan area.

In the United States of America (U.S.A.), about three percent (~3%) of homebuyers were looking to move to Dallas, Texas. These purchasers were mainly from Chicago, Los Angeles, and San Francisco.??

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