The DFW home seller market is on fire right now with over 98% of homes in North Texas selling above listing price. Low inventory has ignited bidding wars on homes for sale in the Dallas-Fort Worth, TX real estate market resulting in a hot seller market in DFW with rising home values and elevated price points for new home buyers. A shortage of available homes for sale in the DFW housing market combined with low interest rates and rising home values has created a unique opportunity for both buyers and sellers to jump off the fence and make the move! Home sellers are particularly in an optimal position to sell and upgrade due to low days on market and the ability to maximize profit on their initial home investment and use those gains to purchase in higher price points, especially with the increased buying power offered by record low interest rates which are currently averaging around 2.75% for a 30 year mortgage.
Economists are whispering about another possible housing boom around the corner in 2021 that will take us back to the record home sales achieved across the U.S. housing market back in the early boom years of 2001-2005. With that said, some economists also fear the housing boom might also result in the same housing bust seen when home prices peaked in 2006 and eventually led to a housing bubble and crisis across the U.S. If your searching homes for sale in Dallas-Ft. Worth, TX, be patient… help is on the way! Inventory for both pre-owned and new DFW home builder construction is expected to significantly increase in the coming months with the Covid-19 pandemic nearing an end!