Wednesday Nov 30, 2022

Worst Time to Buy a House in DFW? Mortgage Rate Drop 2023? December 2022 North Texas Market Update

How is the Dallas-Fort Worth Housing Market? Has the home market crashed? Can buyers get deals on houses right now? Is inflation helping or hurting home buyers and home sellers? Should you move to, or in, North Texas and DFW right now? When will mortgage rates fall and make houses affordable again? Should you buy a house right now? Should you sell a house right now?

Chase explains how the Holidays and Christmas Time are generally the slowest time of the year in the real estate market, and it is pretty normal to see prices drop and longer days to sell this time of year. People don't like to move during the holidays, so it tends to be a good time for buyers to get better deals and a slower time to sell.

In the "News on the Ground", Chase shares the current state of the DFW home market for home buyers and home sellers. People who want to buy a house right now have a lot more home inventory to choose from, better prices, and an easier time getting concessions and repairs from sellers who are motivated. People who want to sell a house right now are facing longer days on market, and are subject to the competition and consequences of the market shift. Chase explains that these factors make it more important than ever to have a good real estate agent to help you strategize and position you home on sites like Zillow and help you sell more effectively to meet your family's goals.

In the "Nerd Corner", Chase shares a news story from November about inflation and mortgage rates. On November 10th the Consumer Price Index report, or CPI, revealed lower than expected inflation numbers for October, and this led to a sudden Mortgage Rate drop. Chase explains how the Federal Reserve has been manipulating rates, and shares how this might point to inflation lowering in 2023 and how this may cause a sudden and significant drop in mortgage interest rates and another market shift. He then gives strategic thoughts for how to position yourself as a buyer if rates are a factor you are waiting on to take full advantage of any coming market changes.

Chase Hansen, a Realtor with Remax Pinnacle Group in Central DFW (based in Arlington), gives monthly updates into the DFW home market that provide insight into what it is like for buyers and sellers in the current market, and what the broader market trends and statistics are saying. If you or someone you know are looking to buy, sell, rent, or invest in residential real estate in North Texas, I'd love to help! Follow and reach out on Instagram @HansenRealtorsDFW and find the video version of this on YouTube at "Chase Hansen - DFW Realtor": 

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