Home Affordability and Sales Up in DFW | February 2023 Housing Market Update North Texas

DFW Home Market Update

@HansenRealtorsDFW on YouTube and Instagram

How is the Dallas-Fort Worth Housing Market? Is it a good time to buy a home in Fort Worth? Is it a good time to sell a house in Dallas? What's happening with mortgage rates and home affordability? Should you move to North Texas and DFW right now? Is it a buyers or sellers market? Chase explains how lower mortgage rates have impacted the Dallas Fort Worth Area at the beginning of 2023, and how buyers and sellers can take advantage of a unique Real Estate Market.

In the "News on the Ground", Chase shares the current state of the DFW housing market for home buyers and home sellers. Buyers have returned to the market more quickly than home sellers, leading to competition and even some multiple offer situations in houses that are well priced and in good condition. Many sellers have not begun listing houses yet this early in the year, but with lower mortgage rates, buyers have already jumped back in, so Chase recommends that sellers could take advantage of the higher demand to get a home sold more quickly with better terms. No one knows whether mortgage rates will continue their trend of dropping throughout the year, or if the Federal Reserve will shift them back up, so it is smart to make moves when you're financially able.

In the "Nerd Corner", Chase shares statistics from the Mortgage Bankers Association showing the rising demand in the home market nationwide, as well as an article outlining a rise in home builder sentiment in the US. These stories back up the experience on the ground and could point to a stable year of activity in the housing market, although Chase reminds viewers that they should not rely on the Federal Reserve to move in their home buying or selling interest, so it is important to think through all the factors when deciding when to move.

Chase Hansen, a Realtor with Remax Pinnacle Group in Central DFW (based in Arlington), gives monthly updates for the Dallas-Fort Worth home market that provide insight into what it is like for buyers and sellers in the current market, and what the broader market trends and statistics are saying. If you or someone you know are looking to buy, sell, rent, or invest in residential real estate in North Texas, I'd love to help!

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