Market Watch - 7 May 2021

Since last week New Listings and Properties Sold have increased, Properties Under Contract are flat and Pending Properties have decreased. Meanwhile, Lease Listings and written Leases are up while Pending Leases are flat.

Let’s first celebrate that listings for both preowned and lease homes have increased. Let’s also congratulate the owners for the success of their sales and leases.

Now, let’s talk about the elephant in the room: there aren’t enough houses available. Preowned residential remains upside down by hundreds of properties each week while leases are at 110% leased ratio. Except for Snowvid-21, the market has been upside down since December.

On Wednesday, a judge struck down the CDC eviction and foreclosure moratoriums. However, until the action is fully repealed or otherwise deemed unenforceable, those houses remain off the market.

“The question for the Court is a narrow one: Does the Public Health Service Act grant the CDC the legal authority to impose a nationwide eviction moratorium? It does not,” wrote U.S. District Judge for the District of Columbia Dabney Friedrich in the decision.

If you plan to sell, now is the PERFECT time. Buyers are prepared to pay more than reasonable and well over asking with concessions that were previously impossible to get.

The timetable and deadline may be sooner than expected. Please call, text or email me NOW to sell your property for top dollar before a wave of rental properties hit the market for liquidation.

I’ve Got Your Six!

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

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