These reports might seem large, even overwhelming, but it's good news for our area! It means your home (or potential home) has good value and it's going up. It means getting properties in our area is a steady asset. Job growth and stability in our area means we've had growth and it will benefit for years. So, let's help you invest! It's time to buy, if you can. Let's talk!
“Mainly supported by a strong job sector and a healthy economy, the residential sector in Dallas has seen amazing growth,” researchers say. “Not only did the pandemic not slow the market, but 2020 and 2021 saw the highest numbers of permits issued for new single-family homes in the entire decade—44,000 and almost 50,000, respectively.”
StorageCafe ranked the nation’s largest metros that have seen the most of new real estate construction from 2012 to 2021.
It's 2022! Housing & You:
Into this new year, we are excited for the moves we can help you make. And our area is still full of valuable investments!
Dallas-Fort Worth remains an undervalued market, with a home value-to-income ratio of 3.0 compared to the U.S. ratio of 3.3. Its home-to-income ratio is lower than that of Austin (4.0) and that of major metros such as San Francisco (6.0), San Jose (7.3), Los Angeles (7.9), New York-Newark-Jersey City (4.9), Boston (4.1), or Washington DC (3.7). Located in a state with no state tax and with affordable home prices, the US Census Bureau estimated that about 58,000 people moved to the Dallas-Fort Worth on a net basis from other states in 2020, a pandemic year. Among the top 10 undervalued markets, it has the highest share of the population that is aged 25 to 44 years old, making up 29.1% of the population compared to the national average of 26.7%. Strong migration into the area will continue to create upward pressure for home values to increase further in 2022.
Ok, yes, there's averages and percentages in there, and I can spell all of that out for you. Bottom line: Even with a rise in prices and little inventory, D-FW continues to shine as a market worth buying into. There is much room for homes/land to appreciate and projections of more folks looking to move into the area.
So let me look with you about making a move, investing in a property or fixer-upper, or other interesting buying/selling prospects.
Each scenario is unique. But honestly, that makes it fun and worthwhile! So reach out and put us to work for you in 2022.
Happy New Year,
It’s been a crazy (and good) year. Covid, the move to Keller Williams, covid going away, covid coming back with the Delta variance, crazy crazy.
One great thing has been the move over to Keller Williams DFW Preferred in Coppell. I LOVE IT HERE!
The agents I get to work with are great. The energy in the office is great, and the training that is available is GREAT. (Especially when I teach!) We have a strong TEAM atmosphere here, and an abundance mentality that I didn’t previously know. I loved my time at REMAX and I have the utmost respect for Mark Wolfe who owns it and is the broker, but something was missing for me. OHT’s business was good, but something was missing.
For years I’ve been pondering leaving REMAX and going out on my own.
A solo broker, doing my own thing. Then I was approached by an old Chili’s manager (Chip Mundy) about moving to Keller Williams and becoming the Designated Broker. Perfect fit. Great timing....
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.
Here's the Original Article: https://www.redfin.com/news/real-estate-bidding-wars-august-2021/
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.