Market Watch - 25 June 2021

Since last week, New Listings increased, Properties Under Contract were flat while Pending and Sold properties decreased. This is the second week in a row that more houses came onto the market than left. The ratio has been upside down since 4 Dec. 2020 and appears to be flattening.

Meanwhile, all Lease indicators decreased because the market is dangerously low on lease properties. There are about a 1,000 lease houses in North Texas. Of those, 14 are priced at more than $10,000 or more per month.

The eviction and foreclosure moratoriums was to end on June 30 and was extended to July 31. A surge of evictions is possible between Aug 1 and 15. Hopefully, these activities will flatten and normalize the lease market while it provides some additional houses on the residential market.

Lumber futures appear to have peaked in May and have been on a sharp plunge - 41% from May to July - according to the National Association of REALTORS®. The consumer market hasn’t seen the relief from the change yet, but builders are getting busy again. Some new homes are starting to trickle into the market. If you’re looking to buy a new-build home in the $360K range for a 5-bed, 3-bath in Collin County, let’s talk.

If you’re ready to sell your house, the window is about to close for “unicorn” prices. Please call, text or email if you’re ready to sell now. I can get a show-ready house onto the market in one day.

I’ve Got Your Six!

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

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