The 2021 real estate market was a bumpy ride, with random periods of waiting thrown in for good measure.
The year started off with a bang with surging prices and inventory down across North Texas. Housing inventory was down for two reasons:
By September, the housing market was still tight. North Texas home sales fell but prices continued to rise due to a lack of housing inventory. North Texas saw record gains in home prices:
"Dallas-area home prices jumped 25% year-over-year in September — the largest gain for the market in the history of the closely watched S&P CoreLogic Case-Shiller Home Price Index."
What will the new year bring? Here are our three predictions for the housing market in 2022:
If you have been thinking about selling your home, give us a call.
If the timing is right and you are ready, so are we.
In North Texas, the supply of homes offered for sale is the smallest since January 2018. And there are even more buyers actively looking for homes to purchase. Why is this big news? Glad you asked!
You've added a kid or sent one off to college. You're interested in a more urban lifestyle. You want to live on some acreage off the beaten path. We know where the hidden gems are right now, and will help you sell your home quickly and then secure one of the few choice properties on the market that fits you perfectly – leveraging the equity in your current home to match your family to an even better one. Plus, mortgage rates have fallen below 3% and are likely to go up after the new year.
Homes are selling quickly and often for more than their asking price. Texas is no exception. The housing market is under-supplied, and the shortage is rising:
Your house is the most in demand; and you're most likely in a strong equity position. Selling your home while the interest rates for buyers is low and the pool of houses to choose from is also low, puts you in a very favorable position. Demand for houses is driving bidding wars and multiple-offer scenarios, and houses are selling quickly.
Selling and buying a home can be challenging. Let us make it easy for you!