Whether you’re buying or selling, it’s critical to understand the conditions of the housing market before deciding.
Basically, the housing market is driven by two factors: a shortage of available housing inventory and extremely low-interest rates. Double-digit annual growth in both list and sale prices show an extreme lack of inventory and incredible demand – a sign of a hot seller’s real estate market.
With home sales having risen to a 14-year high, even with the pandemic, it looks like the holiday season offers good home investment opportunities in North Texas. November is usually a slowdown for the housing market, but it remained a very active month this year.
Whether or not the market will soften toward the end of the year and the beginning of a new year remains to be seen. With the ongoing intense demand and low inventory, list prices have continued to move upwards, giving sellers a clear advantage. Although sellers are listing more and more homes, more new homes are needed to add to inventory.
The housing market in the DFW area showed record-breaking growth up until June 2020, then the pandemic made a measurable impact on real estate with dire economic uncertainty. In spite of that, home buyers continue to quickly snatch up the relatively few homes listed for sale.
However, the DFW area continues to be an excellent part of the country for both buying and selling. Some of the reasons include the following:
- Leader in the U.S. for employment
- 52.9% of Dallas rents vs. 33% nationally
- Newly remodeled REOs (2004 or newer)
- Properties 5% – 15% below market value
- 3-year appreciation forecast of 11.4%
The housing market is projected to stay steady going into 2021, with mortgage rates and slow, but encouraging improvements to the job landscape continue to provide confidence for first-time buyers.
With the promise of a COVID-10 vaccine, the overall outlook points to gradual overall recovery for both rentals and sales in the housing market.
A recent survey shows what people think are good reasons to sell:
- 29% feel so because of high home prices
- 24% like the favorable mortgage rates
- 7% believe it’s easy to qualify for a mortgage
- 16% think since fewer homes are available, you can sell your home faster
If you have a property you want to buy, sell, or lease, Cousin James Management understands how important it is to take action. Our experienced team includes seasoned professionals who understand the details of real estate and property management.
Advantages of working with Cousin James Management:
- We are part of the Dallas – Fort Worth Multiple Listing Service Marketing
- Matthew Hartmann is a licensed realtor with 25+ years of experience leasing, selling, or buying real estate. He knows the ins and outs and makes decision making easier.
- We use Texas Association of Realtors standard promulgated forms, leases, and contracts, covering all the requirements set forth by the state.
- Your property is marketed on multiple websites, through the MLS, where thousands of prospective tenants go to find their next rental home.
- Our high-quality photos show your property in the best light to attract potential tenants.
- We provide detailed screening of prospective tenants to ensure the most qualified tenant for your property, allowing tenant retention for longer periods of time and lease extensions.
Cousin James Management has more than 20 years of experience leasing a variety of residential and commercial properties and can help you find the most qualified, first-class tenants for your property. If you’re looking to buy a home, our licensed team can help you find just what you want.
We can also provide you with investment consultation if you’re interested in investing in a rental property, Other helpful services Cousin James Management can provide include 1) statement of income and expenses for the property; 2) help selling your property; 3) market your property on the DFW Multiple listing Service; and 4) help with professionally photographing your property.
Give our office a call today at 214-810-1850 and let’s discuss how we can help meet your property needs.