Market Watch - 31 Dec. 2021

All market indicators have decreased for a second straight week. This is seasonal and expected. Earlier in the week was the lowest number of New Listings since the “Snowvid” event last February. It recovered slightly to be barely above this same week last year, which is the second lowest point.

With the holidays and new year behind us, the market is set for a major bounce back. An unknown variable is the number of forbearance houses that will become foreclosures and enter the market this month. They aren’t expected immediately because they probably need major repairs after months of likely deferred maintenance. Since materials and repair labor are both in short supply, it will take a while to see the more damaged houses hit the market.

Even so, don’t expect a discount on foreclosure houses since the market is still blazing hot. The major difference will be additional premiums paid and battles for turnkey-quality houses in desirable locations.

The lease market was inverted this week, but the difference was minor and the volume was so low that it isn't a significant concern like it was for much of the year.

I've Got Your Six!

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

#DFWmark #REALTOR #MarketWatch #ResidentialMarket #LeaseMarket #RealEstate #Sold #NewListings #Pending #Leased