As the saying goes, “strike while the iron is hot,” and the North Texas housing market is on fire. Real estate has been a seller’s market for the past two years, and 2017 already looks like it will be no different.
Final numbers for the year from the North Texas Real Estate Information Systems, Inc. (NTREIS) show a decline in sales for the month of December but an overall increase for the year. Winter is not usually a great time to sell, but the recent influx of companies to the DFW area are bringing a large number of employees looking for housing with them. The fact is, inventory is low, which drives up demand, which drives up sales prices. Dallas County alone ended the year with real estate inventory spending slightly over a month on the market. Typical homes have moved quickly in 2016 and are projected to continue to do so in 2017. Sales prices are not expected to decrease in 2017, either.
See the final numbers for December here.
Other factors include mortgage rates, which are still at a 30-year low, and are not expected to exceed 4.8% this year. This low rate motivates buyers to snap up a home before the rates increase. Last but not least, the job market in North Texas continues to improve. While companies are moving to the area, they are not bringing every single employee with them. Additionally, a number of companies in North Texas are expanding, and startup companies that were developed in the area are opting to stick around in business-friendly Texas.
Read more about the current market here.
Sellers should contact an Eric Cantu Real Estate agent as soon as possible to set the wheels in motion. Think of an agent as your personal expert to navigating the selling process. Agents can give you an idea of selling prices in your area, buyer needs, and how your home will compete on the market. They can also give you home staging advice and set up a custom website just for your home.
Take advantage of the North Texas housing market. There couldn’t be a better time to sell, and agents at Eric Cantu Real Estate are ready to help. Call today! 214-295-2622