What You Need to Know About a Shifting Market

Real Estate

Whether you are thinking of selling your house or buying a home, today’s real estate headlines can be confusing – perhaps even concerning. What is actually happening with mortgage rates? Are home values dropping or are they just rising at a slower pace? What impact will the economy have on the housing market?

If you are considering buying, selling, or both this year, you need to know what it will mean to your family if you go ahead with the move. You need to understand three things - What is happening in the housing market right now, why is it happening and how do these affect your local market. 

1. What is happening in the housing market right now?

You must get past the news headlines and gain a deep understanding of what is truly happening. How strong is buyer demand right now? How much competition do listings have today compared to what they will have in the spring? People want to make an educated decision on what is probably their family’s greatest financial asset.

2. Why is it happening?

Understanding the individual pieces that impact the sale or purchase of real estate is important. Understanding how those pieces impact each other is critical. How does the amount of a down payment impact the mortgage rate a buyer will be offered? Can you still price your house a ‘little ahead’ of the market and still be sure it will sell?

3. How do the first two affect your local market?

Basically, you want an understanding of the overall housing market and a simple and effective explanation of how it will impact your personal real estate goals.

The best way to get all three is to work with a professional who understands the East Dallas real estate market and can expertly guide you on the journey to reach your housing goals. Contact me to get access custom area reports for your neighborhood on what is happening in the market. I have knowledge on the median sale price, average days on market, how may new listings entered the market place and more.