Officials predict the Dallas-Fort Worth area will see new housing growth in the coming year. Many analysts have been watching this market very closely to help determine what buyers and sellers can expect from one of the nation’s leading housing markets. Those who are watching closely have been happily surprised to realize that housing market here should continue to flourish as buyers and sellers alike are drawn to this region’s extremely strong economy.
One of the most pleasing aspects of the housing market in the region came to light recently. Official announcements revealed that the number of new home listings in the area was up by twenty percent when compared to the figures for the prior February. The market for housing in the region looks to pick up in the coming year as buyers and sellers come forward.
Confidence in the Market
The increasing number of new houses on the market means that sellers are more confident they can put a house on the market and have it sell. Buyers in the region are also happier as they are able to get access to more inventory, allowing them to choose from a greater variety of houses. Both parties are expected to benefit from this process as a larger number of house closings should follow. However, this varies by area in the region. In some parts of the housing market, more supply is available for qualified buyers. Buyers need to look carefully to find the right house.
Decreased Interest Rates
Despite the Fed’s recent interest hike, the net result has still been increasing interest in housing. Many buyers are wary of further housing mortgage hike rates. This has led to think about buying now before any mortgage rates go up even more. The result has also been that more qualified buyers are able to buy homes in Dallas. Banks have been careful to vet buyers to make sure they can afford the house they’re planning to buy. The market in the region has greatly benefited from this process as ready capital to buy houses has become available again.