If you want to buy a home in North Texas, now’s the time. As home inventory continues to decrease, it will get harder and harder to find the home of your dreams. That means quick action is the best idea for potential homebuyers in Fort Worth and around the Metroplex who want to get into a home soon.
The number of homes listed in Dallas-Fort Worth has declined more than 64 percent from this time last year, according to statistics from Realtor.com. The national decline was nearly 49 percent.
A Deep Dive Into Recent Numbers
All the numbers point to a need to buy quickly if you want to buy in North Texas – or anywhere, really. Nationally, the inventory of newly listed homes went down 24.5 percent from last year. The national median listing price was $353,000, a rise of 13.7 percent from February last year. The average home was on the market about 70 days in February, a decline of 11 days from last year.
Realtor.com predicts that the housing market will be very competitive this spring. Even the severe storms here and elsewhere didn’t hamper the market much. Homes are selling very quickly and prices are rising here and around the nation.
One important factor making it hard to find a home right now: The pandemic has caused some potential sellers to take a greater interest in their current home and not sell as they had planned.
In the 50 largest American metro areas, housing inventory declined more than 47 percent over last February. New listings declined as well, with the largest decline happening in Oklahoma City, where listings were down nearly 47 percent year over year. Other big new listing declines happened in Kansas City and Milwaukee.
Numbers for Dallas, Fort Worth and Arlington show that new listings declined 34.6 percent, active listings declined 54.2 percent and median listing price rose 9.8 percent year over year in February. Days on the market were down 20 days to just 37 days. Median price was at $373,267.
Navigating The Numbers
These challenging numbers make it more important than ever to have an experienced assistant by your side as you try to buy a home in North Texas. Buyer’s Choice Exclusive Buyer Agency offers you four decades of real estate experience. We stand with buyers through the entire home-buying process and don’t work with sellers. That means you have someone on your side – at no extra cost to you.
If you’ve been trying to navigate the home-buying process and are finding obstacles, I’m here to help. I offer you 100 percent loyalty, 100 percent of the time. And those are the numbers that matter most.
Marion Zygadlo is broker/owner of Buyer’s Choice Realtors, an exclusive buyer’s agency. For over 22 years, Marion has specialized in representing ONLY homebuyers and protecting your best interests. There is no additional charge for his services since he receives his fee from the listing agent. If you want an agent on your side who also has architectural and construction experience, choose Buyer’s Choice Realtors. Call 817-233-2737 or email email@example.com.