Since January 2022, the number of new home listings coming to the market has increased by an astounding 83 percent across North Texas, which is even 18 percent higher than the national increase.
In January of this year, there were 3,506 new homes listed in Rockwall, Dallas, Kaufman & Collin Counties. As of May 2022, there was a total of 6,409 new listings in the same counties. Also, there are 12 percent more listings this May than there was this same time last year in 2021.
Homeowners looking to sell but who are worried about where and how they are going to buy, may now be seeing more availability and the buyer’s market a little easier to navigate than it was just a few months ago.
For instance, the number of showings per listing is now down to an average of 8.95 as of May 2022, down from nearly double the average showings in January, when it was at 17.3 showings per listing.
A little less competition out there might just mean now is the prime time for you to go ahead and sell, then get your buyer’s hat on. It could be a perfect time while prices are still high enough to capitalize on this seller’s market, but also with more available inventory and less competition out there (due to rising interest rates and the season), it’s now also a better time to on that buyer’s side as well.