Exciting news for buyers in the Dallas-Fort Worth area! Mortgage rates are falling and have hit a near 2-year low ๐, with the 30-year fixed rate at 6.2%. This dip opens up opportunities for buyers who’ve been waiting for the right moment to jump back into the market.
๐ก Market at a Glance:
- Median Home Prices: Flat since August 2023, with no major increases or drops. ๐
- Active Listings: Up by a whopping 45% compared to last year! That means more homes to choose from. ๐ ✨
- Days on Market: Homes stay on the market longer—up to 50 days on average. ⏳ This gives buyers more negotiating power.
- Inventory Supply: The monthly inventory has increased to 4 months, signaling a shift towards a more balanced market. ๐
- Closed Sales: We’re seeing a slight decline in the number of closed sales, down 4.3%. ๐ผ
๐ฐ What’s Selling?
- The hottest price range remains $300K-$399K ๐ฅ, but homes in the $500K-$750K range are also in high demand. If you’re looking to buy or sell in these ranges, it’s a great time to act!
๐ While the market is cooling off a bit, the falling mortgage rates could spark renewed buyer interest, especially as pent-up demand remains. If you’re thinking of making a move, now might be the window you’ve been waiting for!
๐ Whether you're buying, selling, or investing, let's navigate this changing market together. Send me a message if you have questions or want to take advantage of these market conditions!
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Feel free to reach out! ✉️ Let’s find your dream home or maximize your investment together.
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bret@homeswithmerit.com 214-315-9465
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