Market Watch - 3 Dec. 2021

Since last week, New Listings, Pending and Sold have increased while Properties Under Contract have decreased. The market remains inverted. There are more Sold properties than Pending or New Listings.

The high number of Sold properties in proportion to Pending is noteworthy. It takes about two weeks to close a cash transaction. It takes about 30 to 45 days to close financed transactions. Consequently, there should be a significantly larger number of houses Pending than any other category.

New Listings increased, but the difference was almost doubled by homes Sold this week. Since more houses Sold than are Pending, there's a potential for a noticeable drop in Sold properties during December. This decrease is seasonal, but it would mean a possible pause in this unusual market. It's worth watching – especially since forbearance homes are expected to arrive in January.

Forbearance homes will probably need work due to deferred maintenance to become market ready. While there’s labor and material shortages, expect delays before these homes get to the market.

In the Lease market, both New Listings and Properties Leased increased while Pending Propertied decreased. All these movements indicate a “normal” market on the first of the month since most leases start around the beginning of each month. However, the number of properties Leased neared the number of New Listings. The market could invert again later this month.

I’ve Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #SellNow #BuyNow #forbearance #foreclosure #VolatileRates #InvertedMarket #RentPrices