Market Conditions in Dallas>Question Details

Trulia Dallas, Home Buyer in Dallas, TX

What has caused Dallas' housing market to get so tight recently?

Asked by Trulia Dallas, Dallas, TX Tue Jan 29, 2013

Help the community by answering this question:


The reason the North Texas market has gotten so tight recently is because of the low inventory we have in the area. This year we have about 22,000 properties on the market. A couple of years ago, we had more than 36,000 homes on the market. The days on the market has dropped to under 90 days which has turned this market into the sellers favor. Pair this with low interest rates, this will create a lot of competition for homes around here. If you are looking to buy, you need to be ready to go with a pre approval from a mortgage company or proof of funds when you submit an offer.
If you are looking to sell. Now is the time. Homes that are priced competitively, clean and nicely updated are going quickly and many times have multiple offers on them.
You can look at the most current inventory on my website and of course you can contact me if you need any more questions answered.
I hope this helps!
1 vote Thank Flag Link Tue Jan 29, 2013
Many sellers have either waited for the market to return to list or have pulled their property off the market because of the drop in value. The stronger numbers that we have seen recently have drained existing inventory to some degree. The strength of the DFW economy keeps this area one of the best in the country for buying and selling property. There are still some great prices out there so keep looking.
1 vote Thank Flag Link Fri Feb 1, 2013
Besides a high demand and a low supply, we can factor in a decreasing rate of foreclosures. Dallas has reduced their foreclosure rate to 1 home in every 3,233 whereas the sate is averaging 1:1,336. Plus, lenders are only slowly trickling out their REO listings to (1) keep prices stable and (2) capitalize on increasing property values to offset their losses.

I believe that the market may shift to a more balanced supply and demand as home owners see price appreciation as a signal to start selling.

Latest Dallas Real Estate Infographic:
1 vote Thank Flag Link Tue Jan 29, 2013
Another stupid question from Trulia.
1 vote Thank Flag Link Tue Jan 29, 2013
Hi Kenneth. Thanks for the feedback. Why do you think this question is stupid?
Flag Tue Jan 29, 2013
Its all about the supply and demand.

The supply is on record low and its now just a seller market now
0 votes Thank Flag Link Thu Jan 31, 2013
Outside of all other answers... Texas is one of the top states for inbound moves in the country which includes Dallas!

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer

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0 votes Thank Flag Link Tue Jan 29, 2013
Simply s matter of supply and demand my dear!
0 votes Thank Flag Link Tue Jan 29, 2013
I second Andrea, rising sales with lots of first time home buyers, the market is booming, interest rates are low.. Lots of optimism for the spring selling season!

If you're in the market looking to buy sell or lease, please visit my website for available and active listings:

Melissa Trang, GRI
Ebby Halliday Realtors
Direct: +1469.766.3888
0 votes Thank Flag Link Tue Jan 29, 2013
Lots of buyers - not enough sellers!
0 votes Thank Flag Link Tue Jan 29, 2013
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