The Real Estate Market, especially in North Texas, has seen unprecedented growth since the Pandemic.
In the last month we have seen:
- Quickly rising mortgage rates with 1/2% increase in just last week
- High home prices
- A persistent inventory shortage
However, DFW house shoppers are not slowing down as per a Dallas Business Journal article.
Below are the stats:
- DFW remains solidly in double-digit territory and among the nation’s leaders in the number of showings per home, according to an index by ShowingTime, a home touring technology and data firm.
- The ratio of showings to listings of DFW homes in March was 16:1. That’s the same as it was in March 2021 and down an almost meaningless 2% from February.
- DFW’s showings ratio is well above the U.S rate of 9:3 showings per home.
- Nationwide, the number of markets seeing double-digit showings per listing jumped 46% in the past two months as buyer demand continues to outpace slightly rising inventory, according to the Showing Index.
- In hard numbers, that’s 83 markets with double-digit showings in January of this year, 109 in February and 121 markets in March of this year.
Now, this could change in a snap.
We are seeing hints of a slow down to a much more normal market.
What does all this mean to you if you are still in the market for buying or selling your home?
It means we need to talk to create a more personalized plan based on your personal situation.
There’s not one answer for everyone in this market.
Please click here to schedule a quick call.
