Dallas-Fort Worth has been named a strong buyer’s market, according to the recent Buyer-Seller Market Index report released Nov. 30.
Price appreciation is now closer to around 10 to 15 percent over last year than the 30 to 40 percent numbers we were seeing just a few months ago.
To kick off this housing market update, I can sum up what’s going on in one word. We are still in a… PAUSE. The market is shifting, and it is shifting hard. We’re seeing a lot of price reductions, and we have much more of that to go before we really get past this pause we are in right now.
Did you know that a whopping 36 percent of home sellers cry during the home selling process? According to a study by Zillow, you are certainly not alone if you have found yourself stressing over everything from whether your home will sell during your specified timeframe to moving because of a big life event, getting the price you want, or even about the lack of control with the overall selling process.
Interest rates came way down in 2020, but started back on the rise last year and continue to increase. Buyers flooded the market due to historically low interest rates – rates unseen in nearly half a century. But starting in 2021, rates began rising slowly again due to inflation. Rates are expected to continue to rise, according to experts. Buyers are still looking right now, but some of that demand may soon fall off as the year wears on, making selling sooner potentially a better bet than selling later.
© 2022 M&D Real Estate — All Rights Reserved | DMCA Notice | Accessibility | Sitemap
By using this site, you agree to our Terms of Use | Privacy Policy