Are you wondering what’s in store for the Dallas/Fort Worth real estate market for the remainder of 2022?

Are you wondering what’s in store for the Dallas/Fort Worth real estate market for the remainder of 2022?  

Despite not having a crystal ball, we feel reasonably confident we can count on 3 things for our market. 

More homes will be available for sale. 

This means more options for home buyers, and more competition for home sellers.  Unlike the frenzy created the past few years by minimal inventory, this market allows time for buyers to make decisions. While sellers are not as likely to get multiple offers above list price, they’re benefiting from a list price made possible by all of their neighbors who did these past years.

Mortgage interest rates will likely continue to respond to inflationary pressures. 

While this a real bummer for those who didn’t capture the 3% rates available a year or more ago, rates are still historically, relatively low. With the help of a mortgage professional, home buyers can find loan products with rates that aren’t that much higher than in year’s past AND they are able to actually contract on a home they love (versus buying a home they don’t really like that much but felt pressure to buy or missing out on homes completely). For sellers, no doubt that higher interest rates reduce the number of home buyers in their price range. All that to say, 25% of homebuyers actually pay cash making mortgage rates irrelevant.

Home values are projected to continue to increase. 

Even though we have more homes available for sale today, we still have a shortage of supply (relative to demand). And, even though the rate of increase and appreciation will diminish, we are still expecting market appreciation - and not market depreciation as some dooms-dayers may think.  Which means it continues to be the right time to buy a home.

As always, I appreciate the opportunity to be your residential real estate resource.

If you have any questions about today’s topic, please reach out to me via phone or email. I’d love to help in any way I can!