Here are a few things we've noticed about the state of the Real Estate Market. Encouraging News?? We think so! Read on and let us know what YOU think!
· In November, while compiling the stats for our monthly newsletter, we found that there were fewer active listings by some 20%-30%, in many North Dallas Suburbs, from the same month in 2011! That trend continued by lesser percentages in December. What does that mean? Are Sellers tired of the Buyer’s Market that has existed for the past several years and have decided to wait to list their homes? Are more houses selling?
· According to Steve Brown, Real Estate Editor, Dallas Morning News, (January 10, 2012,) North Texas purchases of pre-owned homes were up 5 percent in December from a year earlier, the sixth month in a row of higher sales. Brown also noted, after almost five years of declines, home prices in the DFW area will edge up in 2012! Our market will be among the top ten home gainers and should increase 5.8 percent by the end of 2012. That is higher than the nationwide forecast of 0.2 percent.
· With this news, we are thinking it is a great time to list your home…less competition!
· Mortgage rates continue to hover just under 4%! Brad Lynch, Premier Nationwide Lending, reported on 1/18/2012, 30 year conventional loan rate at 3.875%, FHA, 30 year rate at 3.75% which also makes it a great time to be a buyer!