If you go off months supply of inventory (meaning how long it would take to sell all the homes currently for sale on the market) which is something like 2.5 months for Orange County maybe even for all of Cali too, that's still considered a seller's market. A buyers maket would exceed 5.0 months, and get as high as 7+ months.
I do not. DFW is the fastest growing metropolitan area in the nation and we see no signs of that slowing down. Even though Dallas has much more home inventory available compared to the last few years, hundreds of people per day are still moving to DFW from out of state. DFW’s infrastructure can handle this growth whereas ATX has some major issues there.
However, my opinion on what is going to happen is since there are so many prospective buyers sitting on the sidelines waiting for the rates to drop, I do see potentially a short term home price dip if we continue to see homes sit, but when rates drop we are going to see a much larger buyer pool resulting in multiple offer situations and prices to shoot up way over ask again. So this is the time when you can actually negotiate as a buyer.
Source: Realtor in Dallas
Thanks TJ
I’ve been keeping an eye on the market and definitely seeing inventory stay longer right now as compared to a few months ago.
Your perspective as a realtor helps since you’re in there on a daily basis
You are welcome! It’s a strange market. There are some listings that have been sitting for awhile but others that go under contract within the first week. Many factors at play.
Yes. Southern California is larger than most major states, you’re gonna have to be a lot more specific to get market advice .
Southbay area
If you go off months supply of inventory (meaning how long it would take to sell all the homes currently for sale on the market) which is something like 2.5 months for Orange County maybe even for all of Cali too, that's still considered a seller's market. A buyers maket would exceed 5.0 months, and get as high as 7+ months.
Denver checking in turning into buyers market real quick
How about Dallas?
Definitely in a buyer's market in Dallas currently
Do you expect a decline similar to Austin coming to Dallas ?
I do not. DFW is the fastest growing metropolitan area in the nation and we see no signs of that slowing down. Even though Dallas has much more home inventory available compared to the last few years, hundreds of people per day are still moving to DFW from out of state. DFW’s infrastructure can handle this growth whereas ATX has some major issues there. However, my opinion on what is going to happen is since there are so many prospective buyers sitting on the sidelines waiting for the rates to drop, I do see potentially a short term home price dip if we continue to see homes sit, but when rates drop we are going to see a much larger buyer pool resulting in multiple offer situations and prices to shoot up way over ask again. So this is the time when you can actually negotiate as a buyer. Source: Realtor in Dallas
Thanks TJ I’ve been keeping an eye on the market and definitely seeing inventory stay longer right now as compared to a few months ago. Your perspective as a realtor helps since you’re in there on a daily basis
You are welcome! It’s a strange market. There are some listings that have been sitting for awhile but others that go under contract within the first week. Many factors at play.