Realtor.com just put out some very good news recently with stats on homebuyers browsing their search engine for homes in the Dallas area. In the past few weeks they have seen a huge influx in potential homebuyers searching online for homes since the record low of the "Pre-COVID Era"! Which put almost every aspect of the real estate market, and the economy on a huge pause. This is great news for the Dallas Real Estate Market as we are heading into the second half of the year! I can attest to this as a Top Dallas Real Estate Agent who does a lot of relocation in DFW. Over the past month I have received record breaking number of calls, and inquiries from families looking to move to Dallas! My real estate business has never been busier with buyers then right now! However, there is some not so good news.
Realtor.com also put out some stats stating that home prices in North Texas have fallen 1.1% since this time last year! This is a stark difference from other metros in Texas like Austin where values are up 5.7%! Not to mention that nationwide the median home prices are up 4.6% from June of 2019! Ouch! What happened to Dallas being one of the hottest real estate markets in the U.S.? Only time will tell.
This may not be good news for homeowners, but this is great news for buyers who are looking for deals on a home! Strike while the iron is hot. However, this means that homeowners will be hesitant about putting their home on the market or all together deciding not to sell their home this year. So inventory will be low in certain areas of the Dallas Metroplex. This only makes looking for the right home that much trickier for Real Estate Agents. It's a "Catch-22".
What does all of this mean tho? This means that we are starting to see a more balanced market. Some inflated home values are starting to come down which is good news for buyers. While homeowners looking to cash in on equity may need to hold onto their home for another year. It also means that homeowner, and their REALTORS® have their work cut out for them if they want to sell for top dollar. Their home has to hit all the marks when showing to buyers. Repairs have to be done, updates need to be added, curb appeal is a must, and marketing can't be minimal.
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