This market update shouldn’t come as a shocker but there is some interesting data. As we come into 2018 everyone is wondering how this year will go in the Real Estate market here in the Dallas and Fort Worth area. If you are at all familiar with this area you will know we haven’t seen a buyers market in quite some time. Over the last few year the Dallas Fort Worth area has been in a hard sellers market which means that houses are selling in a week, multiple offers are common and in a lot of cases buyers are paying over appraised value. It’s become the wild west out here. Home prices a few years ago were considered very low compared to the rest of the country but are starting to pick up. New construction is going up anywhere there is land. If you are interested in buying a new home, check out Buy A New Home Build for the best incentive programs.
This past year we saw for the first time a swing back towards a more balanced market when inventory grew in the summer months, however this trend quickly faded as winter hit and we are back down to the level of inventory we saw last year at this time in January. The real question is what will happen this year? A recent article by CultureMap highlights the fact that last year for the first time we saw a slow down in people moving to Texas. This could be a cause of the additional inventory. If this trend continues it would make sense for us to see a slow down in the market again this year but time will tell. At any rate, it’s still a hard sellers market and prices will continue to rise this year.