Flyhomes will be expanding its operations into three new housing markets in Texas including Austin, Dallas and Houston, according to a press release from Flyhomes.
Flyhomes, as the "creator of the world’s best home-buying experience," will bring power to the way people buy homes in these three Lone Star areas and join Flyhomes' existing markets of Seattle, Washington, Boston, Massachusetts, Portland, Oregon, the Bay Area and Southern California, the release said.
“A home is the single biggest purchase most people will ever make, and the traditional process of making that purchase is fraught with obstacles, stress and worry,” Tushar Garg, Flyhomes CEO and co-founder, said in the press release. “Our approach—which brings every step of the process under one roof—helps buyers separate fear from risk to make more informed home-buying decisions. We are thrilled to bring our reimagined real estate process to create radically different experiences for homebuyers in Austin, Dallas and Houston, Texas.”
In Flyhomes' also existing markets, the company already has closed on more than $3 billion work of homes bought and sold, the release said.
"According to U.S. Census Data, 4.2 million people have moved to Texas since the last census in 2010," the release said. "People are flocking to the Lone Star State for the job opportunities, lower cost of living and tax incentives. This influx of new residents has created increased competition for housing across the state. The three new Texas locations were selected due to the relatively competitive nature of their housing markets."
According to the release, the average home in each of these three markets of Austin, Dallas and Houston is taken 1.5 to 3 times faster than the U.S. average.
"For current homeowners planning a move to Texas, the Flyhomes Buy Before You Sell program makes the transition even easier," the release said. "The innovative program frees homeowners to shop for their next home without any worries about contingencies, timing or moving logistics."
According to Home Buying Institute, the Texas Real Estate market has been on the rise since 2021, and housing predictions for 2022 are following the same trends.
The Home Buying Institute reported that Zillow issued a strong forecast for the Austin-Round Rock-San Marcos market extending into 2022 in August, with the prediction of home prices in the area rising by 17.8% in the next year after the median home value rose in the area 41% in 12 months.
For the Dallas Fort Worth area, Zillow shows the median home price rose 19.4% over the last 12 months, Home Buying Institute reported, and Zillow predicts it will rise by another 14.5% in the next year.
Houston is also following this trend with a median home value having rose 15% over the last 12 months, and a predicted 13% increase over the next year, according to Home Buying Institute.