It’s June and we are at the peak of buying season. It’s time to look back and see how the market is stacking up vs last year. In this update, Tom also talks about what’s going on with new construction.
The market is still hot but not as hot as last year. We are starting to see a shift in the market back towards a balanced market. There are a lot of factors that support this. There are still a good amount of people moving here from other states but there are less this year than last year. New construction is at a new high for homes being built in Fort Worth and Dallas. On top of that interest rates are going up which is putting some people out of the market.
Below is an infographic provided by the Greater Fort Worth Board of Realtors. This has some great insight on what is happening on the market. Prices have continued to increase this year at right around 8%. We have more listing this year compared to last year and you can see the price distribution is higher as well. It’s becoming near impossible to find homes under $100k in this market.
If you are in the hunt for a home or thinking of making a move, please do reach out to us. We would love to help with your next move!