Market Watch - 19 Feb. 2021

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Hi! I’m DFWmark and this is your weekly North Texas residential real estate Market Watch for the week ending on 19 February 2021.
First, my heart goes out to everyone impacted by this week’s events here in Texas. The record temperatures, snow and ice were enough. To have it compounded with power outages, water stoppages and more during a global pandemic is beyond words.
If you need help, I’ve updated my listing of trusted contractors. I’ll put the link in the comments, or you can go directly to DFWreferral.blogspot.com. I’ve assembled plumbers, electricians, HVAC specialists, restoration companies and more for you.
It’s publicly accessible without any cost or gimmicks.
Also beyond words is this week’s market watch. I almost considered skipping it this week because it is an anomaly. I pulled a trend graph from near the beginning of the pandemic to this week to show this historic moment in context.
In a year of historic low interest rates and historic low inventories, we can now add a low number of new listings. This week we had 604.
With all this said, let’s get to the Market Watch.
Since last week, New Listings, as well as properties Under Contract, Pending and Sold have all declined significantly.
The inverted sold-to-listed ratio stretched out for another week with one of the deepest dives ever for listings and sales. While the snow melts this weekend, expect buyers to compete with multiple offers near or above reasonable asking prices on the few available houses.
Please call, text or email me if you have a house to sell and take advantage of this STRONG seller’s market.
If you expect to work from home in the future and need a bigger, better or newer house, let’s talk. A new construction house might be right for you. You may need a home with more office or leisure space, I can help you get it.
However, you need to move fast because building materials are in short supplies. REALTOR Magazine stated on Friday that lumber prices have surged nationally to a record high with price increases of 170% in the last 10 months. The prices for new-start framing packages fluctuate daily. The point is that buyers need to purchase quickly or pay more for waiting.
There are inventory houses in progress and available today with plenty of space, game rooms, media rooms and studies by great builders. They’re difficult to find, but I know where they are. Lock one down before they’re gone!
I recently completed a Home Buyer Guide for preowned and new build home buyers. It covers everything you need to know when considering your new home. When a home buyer is ready to move, I’m honored to send a PDF of this guide at no cost via email. Please email your name to markhancockrealty@gmail.com and request the Home Buyer Guide.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketReport #InvertedMarket #BuyAHouse #NewConstructionBook #NewBuiltHouse #NewBuildBook #FreeBook #HomeBuyerBook