North Texas No Longer “Hot, Hot, Hot!”
It’s been hot in North Texas, but it’s finally starting to cool off.
And we’re not talking about the weather. We’re talking about the local real estate market.
Perhaps you’ve heard that the market has slowed while interest rates climb. But before you batten down the hatches, lock your doors, and prepare for the worst, let’s address what this shift actually means. This is not a downturn in the market, but instead, a much needed normalization.
A changing market isn’t frightening if you know how to use the information. Or, even better, have team on your side that knows how to help you benefit.
Balance is essential. Right now, the North Texas market is headed toward a much-needed even scale.
The infographic on the right might indicate that home sales/pendings are decreasing while prices, days on market, and supply are rising. However, what this actually shows is a sustainable real estate market. Normalization works best for a balanced market; too many sellers means not enough buyers, too many buyers means not enough sellers. Instead of the chaotic and overwhelming market of the past, homeowners will have the opportunity to price their homes at a reasonable, but still profitable, price without the constant worry of unmet appraisal values. Buyers are less likely to get into multiple offer situations that lead to burnout and frustrations. What we are seeing is the opportunity for D-FW home sellers and home buyers to find affordability and opportunity.
You don’t have to buy, buy, buy, before it goes bye, bye, bye.
Despite of their recent climb, Interest rates are still hovering at a historic low. Even with a slightly higher interest rate, most buyers still qualify for beautiful new homes all over the D-FW market. With the home rates stabilizing, now may be the best time to discuss your purchase price and determine your most reasonable monthly payment. Best of all, with the North Texas market shifting, there will be time and opportunity to find the home that is right for you. If you’re a North Texas seller, there are plenty of buyers that had been scared away by the tales of losing out on multiple homes and multiple offers. Now, they’re finally ready to move forward with purchasing their new home, and it just might be yours. The Dynamic Estate Team has the knowledge and the resources to help you achieve your real estate dreams. Our agents can help you find a home that fulfills your wants and needs as well as keep it within achievable parameters.
Ready to hear more about how you can use this time in the real estate market to your benefit? Call (214) 682-9765 to get started today!