Real Estate Market Analysis Essay
Forecast Population Growth to 2025 2
Housing Affordability, Average Sales Price and Growth 4
Housing Characteristics 6
Society and Ambiance 6
The age distribution 7
Types of households 8
Educational attainment 9
Economic Outlook 10
Unemployment Rates & Employment growth 10 …show more content…
Collin County MLS Residential Housing Activity Source: U.S. Census Bureau
3. Housing Characteristics
In 2003, Collin County had a total of 228,000 housing units, 4.9 percent of which were vacant. Of the total housing units, 70 percent were in single-unit structures, 27 percent were in multi-unit structures, and 3 percent were mobile homes (See Figure 3.1). Fifty-five percent of the housing units were built since 1990.
Figure 3.1 4. Society and Ambiance
A balanced society attracts investors to the region, which is one of the important factors for real state development. In general, the character of a community is a composite of the people who reside in the area. Given that, demonstrating the following three key characteristics in Collin County indicates a mature, well-educated and family-oriented society: another green light for residential housing investment.
i) The age distribution
In 2003, Collin County had a household population of 594,000 - 297,000 (50 percent) females and 297,000 (50 percent) males. The median age was 33.4 years. Twenty-nine percent of the population were under 18 years and 5 percent were 65 years and older (See Figure 4.1).
Figure 4.1 For people reporting one race, 83 percent were White alone; 6 percent were Black or African American; less than 0.5 percent were American Indian and Alaska Native; 9 percent were