Market Watch - 9 July 2021

Since last week, the housing markets lost much steam. All categories decreased in the residential market. The Lease market was flat with significantly fewer Leased Properties. A total of three more lease properties came onto the market than left in the last seven days. There simply aren’t enough quality leases remaining for an area with 6.4 million people.

According to Macrotrends, DFW’s population grew by an estimated 96,000 since 2020. It’s a 1.52% increase since last year or an average of 8,000 new residents per month.

After hitting record highs in May, lumber futures had a record-smashing dive in June – down 40% in one month. This still hasn’t hit the retail market but has started to appear as builder activity. Meanwhile, the national unemployment rate dropped to 5.9% in July 2021 from 10.2% in July 2020.

The expectation is that lumber and other building materials will become more reasonably priced and abundant as laborers return to work. This shift may manifest as more new home construction.

According to TAMU Real Estate Research Center, 4,515 new home starts were recorded for DFW in April – the most recent report.

All this information means it’s time to sell underperforming or oversized properties. I can help get it sold quickly and smoothly. I also know of available new homes that don’t require “best and highest” bidding. Please call, text or email.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellersMarket #LumberCorrection #FlatLeaseMarket #PopulationGrowth #BackToWork #ConstructionStarts #HomeStarts