![]() What this means for buyers and sellersįirst of all, houses will likely complete sooner, providing a more steady supply to the market. If anything, it’s returning to more reasonable levels. Supply has not dramatically dropped to some kind of all-time low. In other words, a large number of houses are still being built. But this drop is almost to be expected, as the number of house starts had been growing so rapidly. The statistic has made headlines as a 38% drop in new house starts between quarters hasn’t happened since 2009. While 38% seems like a shocking number, it isn’t as serious as it seems. This is a 38% decrease on the fourth quarter’s construction last year. ![]() For example, in the fourth quarter of last year, 8,000 new home starts began. While this sounds like a lot, it’s actually 16% less than the year before.Īnd this trend is continuing. In 2022, just under 49,000 homes were started by builders. Mitchell Parton, Residential Real Estate Reporter for Texas, recently reported the following. The first piece of data to consider is how many new houses are being constructed in the Dallas-Fort Worth area. To learn more, read on for four expert opinions on where the market is heading this year. The future for the Dallas housing market looks promising and is worth investing in. Buyers are cautious, even though sellers have the advantage.īut there are signs that it will soon be more stable. Therefore what should be a seller’s market becomes less predictable. They may even hold off for a while, hoping that interest rates will drop. ![]() With higher interest rates, they may hold off on making offers to recalculate what they can afford. Therefore, sellers will receive less interest in their properties than usual.Īs interest rates have climbed so quickly, potential buyers may be stepping back from the process to re-evaluate their options. High interest rates encourage buyers to keep their loans low, meaning they’ll consider a smaller range of properties. Even worse, they’ve climbed steeply and quickly. ![]() According to the previous figures, that should make the Dallas real estate market clearly a seller’s market.Īt the moment, interest rates are far higher than usual. So, where does the Dallas housing market sit at the moment? In Texas, the housing market is sitting at roughly 3 months of supply. Over 6 months of supply is a buyer’s market, as there are many properties to choose from. Any less than that suggests a seller’s market a situation where sellers have the advantage in housing deals. It is only those builders, home flippers, and investors who are reaping the benefits and we, the working class, are okay with that.5-6 months of supply – that’s how a balanced housing market is frequently defined. I, along with others, feel no need to rush away from a job that has steady pay and that is rewarding just to take a giant leap of faith into the real estate market even though the footing may feel solid. The job market is booming and because of this, people are being paid well and they feel valued. ![]() The real estate market is sitting on the backs of those who are working every day and who not focused solely on money, and instead are focused on their family and their life outside of work. It begs the question of why would I still be a Realtor when home flipping, building, and real estate holdings are cashing in on a much larger scale.ĭay jobs are the real fuel to the fire here in Dallas. It is not a coincidence that builders are quickly buying up as much land as possible to build and capitalize on this city. The fact is that North Texas home builds, and sales of these builds, are at the highest level since 2008. ![]()
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