5 Predictions for the Spring Market

The Spring Market will be here before we know it. Last year, by the end of January, the Spring Market was in full swing… and I don’t think that this year will be any different. While I can’t predict the future, I think we’ll see the five following trends this year:

1. The boom will continue.
   As one of the hottest markets in the U.S., DFW has seen a 13% value change in the last six months. Prices will continue to trend upwards, even if it is at a slower rate than 2020.

2. This craziness will subside… to some extent.
   According to Goldman Sachs, there’s good news and there’s bad news. Good news: prices won’t rise as much as they did in 2021. Bad news: GS is still predicting a 16% increase in prices.

3. Inventory will continue to be tight.
   While nationwide we saw the highest level of inventory of the year in September, this doesn’t mean we will have an excess of inventory. While we may see a slight uptick in inventory, plan for the market still to be competitive.

4. Offers will have to be competitive.
   With supply still low and the population of Texas every growing, we’re sure to see competition stay in the market. It’s crucial to work with an agent who knows how to write the most competitive offer (*hint: there’s more to a competitive offer than just price).

5. The cheapest time to buy a house in Dallas was yesterday.

   For the reasons above, it’s always my view that the cheapest time to buy a house in Dallas was yesterday. The market will continue to stay hot and now is a great time to get in the game. Don’t let the craziness scare you, we can do this!

If you’re interested in buying in 2022, let’s talk! It’s time to make a game plan. Connect with me here!

Sources:

• https://www.bizjournals.com/dallas/news/2021/10/09/hottest-housing-market-comparisons-dallas.html

• https://www.businessinsider.com/housing-market-prices-forecast-goldman-sachs-rent-inflation-real-estate-2021-10

• http://www.homebuyinginstitute.com/news/more-housing-market-inventory-in-2022/

• http://www.homebuyinginstitute.com/news/strong-predictions-for-texas-markets/