Megatel Homes LLC, one of the largest private homebuilders in the country, today announces record sales for Q1 2021. The significant demand for single-family housing in the Texas market has driven gross contract sales in excess of $180 million. Megatel Homes anticipates that the housing market will remain strong for the foreseeable future.

"The current environment of the Dallas-Fort Worth housing market is like one we have never experienced before," said Zach Ipour, co-founder. "The margin in most of our communities has nearly doubled within the last six months and we are witnessing price increases of $10,000 to $20,000 per month, on average. If four homes are sold in one week, prices increase across the board for the respective community which ultimately helps the bottom line."

According to a recent national housing report by RE/MAX, the median home price in the Dallas-Fort Worth area is $314,900, a 14.9% increase from one year ago.

Ipour explains that home prices in the Dallas-Fort Worth area are constantly increasing while remaining relatively affordable compared to markets such as Austin, Phoenix, Nashville and Tampa. "We project that the housing market will remain strong for the foreseeable future due to contributing factors such as job growth, low inventory and increased demand. Additionally, we are seeing buyer urgency increase as interest rates are increasing from historic lows within recent months."

Ipour adds that Texas added 30,800 nonagricultural jobs during the month of January, marking the ninth consecutive month of job growth. Additionally, the unemployment rate in Texas for January 2021 was 6.8%, a decrease from 6.9% in December 2020.

The North Texas Real Estate Information Services (NTREIS) February 2021 report indicates that new home listings were down 36.7% from last year, while median sales prices were up 14%. The report also reveals that the inventory of homes for sale in the area was down 60% from last year and months' supply of homes for sale has declined by 64.3%.