Fox Business News reported this month:
The competition to snag your home now looks to ease,
"with August seeing the fewest competing offers so far this year. About 58.8% of the home offers by Redfin agents faced competition, a new low for 2021, according to the technology-powered real estate brokerage. This is a decrease from the revised bidding-war rate of 62.1% a month prior and it's well below the "peak of 74.3% in April,"
according to Redfin.
The August rate is also lower than the bidding-war rate of 59.4% reported a year ago. "While sellers continue to have the upper hand, buying a home has become slightly easier this summer as the country's acute shortage of homes for sale is no longer intensifying and the market has undergone its typical seasonal slowdown," Redfin said. Although sellers are still pricing their homes "very high," not all buyers are biting.
--- Let's guide you in your search, and when to take a BITE this fall. -Pat O.
These extensive numbers are helpful, for a statewide view. Here are some highlights from this very thorough report. Report here.
Total Texas housing sales increased 2 percent in May but continued to normalize from elevated levels the last few months of 2020 amid constrained inventory, especially for homes priced less than $300,000. The Residential Construction Cycle (Coincident) Index, which measures current construction levels, elevated nationally and within Texas due to improved industry wages, employment, and construction values. The Texas Residential Construction Leading Index, however, decelerated as building permits (weighted by market value) and residential starts decreased and rates on the ten-year real Treasury bill increased. Still, the overall upward trend indicated stable future activity. Houston and Austin reflected statewide fluctuations in weighted building permits and residential starts. Houston's leading index declined, while Austin's metric remained on an upward trajectory. The Dallas-Fort Worth (DFW) and San Antonio indexes also suggested steady construction in the coming months. (For additional housing commentary and statistics, see Texas Housing Insight at recenter.tamu.edu.).
Dallas added 17,400 jobs, roughly half of the statewide gain, rebounding from a net loss of 2,600 workers last month amid layoffs in the goods-producing sector. Employment in Austin and Fort Worth grew by 2,300 and 2,000 workers, respectively.
"Although it's still expected to favor sellers for the foreseeable future, several key indicators suggest the wild housing market may soon start to cool off. At least a little bit." -- data from Seattle-based Redfin Corp. found rising number of homes for sale nationwide, so much so that they surpassed 2019 levels during the four weeks that ended July 4 (Of course 2020 was just too strange to quantitate. But compared to 2019, this is the first time this year this has been the case.
Write something about yourself. No need to be fancy, just an overview.