Market Watch - 3 March 2023

Since last week all categories have increased. Similarly, the lease market had increases in New Listings and Closed Properties while Pending Properties were essentially flat.

This could indicate the beginning of a normal spring shopping cycle. However, both markets inverted and closed more than they listed. This is combined with anecdotal information that multiple offers have returned to the residential market while “interest lists” are creeping back into new construction.

Expect shortages and increased cost for labor and supplies related to construction and home repairs. Additionally, the Fed is prepared to risk a recession to tamp down inflation according to Bankrate. This position could mean higher costs to borrow money (i.e. mortgage loans).

In short, folks who aren’t where they want to be should make the move soon. Call, text or email me if you’re ready to buy now. I also know of innovative ways to buy now and sell your house afterward for its maximum price, in a short time with the least inconvenience.

I've Got Your Six!

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

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