Market Update 1.15.2024

Spring market appears to already be here. Multiple homes in the DFW area are receiving multiple offers after just a few days on the market, and sellers are back to receiving $0 leasebacks, closing costs paid by buyers, appraisal waivers, etc.

What does that mean for buyers? If/When rates go down, there will be more buyers on the market and it will be more competitive as we get closer and closer to Spring/Summer. If you have been on the fence, the sooner you can reach out to a loan officer and get a your ducks in a row to go shopping and putting in offers the better.

What does that mean for sellers? You could see multiple offers for your home, you could get over list price, you could end up not paying for any closing costs.

Each neighborhood within a city is different and has different stats. Plano for example, homes in Central Plano typically do not last longer that 14 days on market, while homes in East & West Plano stay on the market for 30+ days.

Knowing what area you are wanting to move to, is critical to setting expectations. 2024 was predicted to be a wild year in real estate, and we are just a couple weeks in January and I agree it is already getting interesting.