Market Watch - 2 July 2021

Since last week, the markets moved back to inverted territory. New Listings decreased. Pending Properties were flat while Sold and Under Contract properties increased.

The Lease market made some gains with a modest amount of New Listings while Pending dropped significantly and Leased Properties outpaced all gains. The net effect is still fewer lease houses available.

When The White House announced an additional month for the eviction and foreclosure moratoriums, it threw the market back into inverted status. While not stopping the moratorium, the Supreme Court effectively blocked another extension.

Anecdotally, speculative construction has started in parts of the Metroplex. Extra stimulus money was removed from unemployment benefits, which helped reduce unemployment numbers. Meanwhile, lumber and other building materials have become more readily available for builders. If you want a reasonably priced, new-built home, please call, text or email me. 

According to Markets in a Minute, “The FHFA reported a monthly home price increase of 1.8% and year-over-year growth of 15.7% for April. Both Figures broke previous records.” They also stated that mortgage applications have dropped as inventory remains tight.

I’ve Got Your Six!

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

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