Since last week, New Listings and Pending Properties have decreased while AOC and Closed Properties increased. All of these are somewhat in line with cyclical behavior related to the beginning of the school year, which is 10 Aug. 2022. Expect all indicators to move into a decreased autumn pattern in about two weeks.
Price decreases hit a height of 3,859 properties within the last seven days. It more than doubled the previous post-pandemic peak of 1,806 on 20 Aug. 2021. This was possibly in anticipation of The Fed raising lending rates again this week and adding difficulty to loan acquisitions.
The Lease Market also had an expected increase in Closed Properties and decreases in New Listings and Pending Properties. Lease inventory continues to grow as average prices increase.
All major lease indicators are higher this year than during the same time last year. Year over year increases are 388 New Listings, 100 Pending and 213 Closed.
I’ve Got Your Six!
Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com
#DFWmark #REALTOR #MarketWatch #BackToSchool #inventory #BuyNow #PriceDecreases #HighRent #SummerEnd #NestingSeason
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