What’s Ahead for the Dallas Housing Market?

Janelle looks into her crystal ball to see what’s ahead for the Dallas Housing Market. How long can this crazy Sellers market last? Will interest rates continue to rise? Will we continue to see buyers making offers that are 30, 50, even $100,000 over the list price? Watch the video and let's find out!
Need a crystal ball?? I wish I had a crystal ball that foretold the future… If I did, I’d be rich and famous, and you’d be paying money to watch this video! Here’s some things we do know… Just this past week, Fed Chair Jerome Powel said that the economy was much improved. And Economists are predicting that we may see growth as high as 7% this year and just last week, jobless claims hit a 1-year low.
Sales of existing homes fell in February because of the shortage of homes on the market, but even with the decline in the number of homes sold, sales in February were still 9.1% higher than Feb 2020! On the ground here in North Dallas, we are seeing a slight increase in the number of homes for sale, but buyers still far outnumber sellers, and homes are selling very quickly.
Two things that could change that: warmer weather and Covid vaccine availability. It is a challenging market right now, for buyers and sellers.
The stories are true: multiple offers, offers significantly over list price, and fierce buyer competition. Sellers are also faced with the challenge of wanting to sell, but not knowing where they will be able to move to when it's their turn to buy a home.
The market is changing and shifting every day… If you’re considering buying or selling your home, be sure your realtor has the negotiation strategies to help you succeed in this challenging market. Our team is thrilled to have had an amazing 1st quarter, where we helped more clients buy and sell properties than we ever before in any single quarter.
If you're stuck, or unsure whether now is the right time to buy or sell your home, contact our team, we have the resources and strategies to help you move forward.
You can always visit the Indigo Skye Group on our YouTube channel anytime for more updates, tips, trends, questions and answers about the Dallas housing market.
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