Channel 8 ABC News recently analyzed the Dallas-Fort Worth housing market… and found it to be hotter than ever. In their news segment, they interviewed several local experts to find that homes are a hot commodity in North Texas right now!
DFW: One of the Country’s Hottest Housing Markets
Thinking about buying a home in Dallas-Fort Worth? It might be tougher than you’d think. In a normal real estate market, there are about six months’ supply of homes available to buyers. In today’s market, there are only two. What does that mean? It means demand is HIGH, and the supply isn’t meeting the demand. It’s terrific news for sellers, not so optimal for buyers.
Good News for DFW Sellers
Thinking of selling a home in North Texas? It’ll be a breeze… and you might even make more money more than you originally asked for! It’s not uncommon for a home to hit the market and receive several offers days, if not hours, later. I’ve listed a home Friday night and had four offers by Saturday morning—sight unseen. And home prices are on the rise, which means you’re likely to make more money than you think.
Buyers Make Haste!
If you like it, grab it, because it might not be here five minutes from now. That’s how competitive the market is. If you see a home you like, you’d better put an offer on it NOW, because if you don’t someone else will. Sob stories and frustration are becoming more common—as are rising home prices and shopping out of preferred price ranges.
New Homes Are On the Way—But They Won’t Last Either!
Builders are responding joyfully to the rising demand for new homes by building, building, building! In fact, new homes are being built at their fastest rate in 10 years, with 29,000 homes to be built in the area THIS YEAR alone! But with no signs of a slowdown, and buyers reserving lots and home sites left and right, many builders have even had to refuse buyers because they simply can’t build enough to meet the demand.
Want the Full Story?
Watch the video or read all the highlights to learn all about the DFW housing boom.