More Than 20 Percent of Homes in The DFW Have Had Price Cuts
Posted On 2:23 am
Are you planning on buying a DFW home? If so, there may never be a better time than right now to buy a home in Dallas because the real estate market has cooled and this means opportunity for buyers!
More than 20 percent of the houses listed for sale in the Dallas area has had at least one price cut in order to try and move the property.
Nationwide, the share of houses — about 17 percent as of August — on the market that has had at least one markdown is at the highest level in four years, according to a new report by Trulia.
“Comparing data from August 2017 with August 2018, the share of listings with a price cut rose in 63 of the 100 largest metros,” Trulia economist Felipe Chacón said in the new study. “Homes in pricier neighborhoods have listing prices slashed more often than those listed in neighborhoods where homes are less expensive.
What About Mortgage Interest Rates?
Even though they’ve increased this year and are now over 5%, mortgage interest rates are still historically low compared where they were at this time of year 10,20 and 30 years ago.
The combination of low rates and more home inventory to choose from means that home buyers have more options than they’ve had in the last 4 years.
Should Some Homeowners Back Off And Not Sell?
Were you planning on selling your home now or sometime in 2019 and now you’re not sure if it’s the best choice for you to make or not?
The good news is that you can still sell your Dallas Texas home if you do the following:
- Make sure that it shows well by decluttering, painting and staging your home.
- Price your home correctly. This is done by doing a comparable analysis of homes for sale in the Dallas area before you list your home for sale.
- Hire a great real estate agent who understands the DFW real estate market and will help connect the right buyers with your home.
Get Started with Buying or Selling A DFW Home
To get started with buying or selling a DFW home contact me today (972) 523-1389 or connect with me online.