Foreclosure filings are down by more than 20 percent this year in North Texas. Home foreclosure filings in the DFW area are down 22 percent for April from a year earlier levels. And so far there is no sign of an expected bump in home foreclosure postings.
what’s more?? there are FEWER homes in North Texas with ‘for-sale’ signs in their yards. in fact, the overall number of pre-owned (existing) houses for sale in North Texas are at their lowest level in more than a DECADE. many areas have less than a 4 month supply of single-family homes listed for sale. to put things in perspective – a 6 month supply of homes is considered to be a ‘balanced’ market with anything less than that leaning towards a seller’s market. nationally speaking the average months of inventory is 6.1 months. three of the tightest home markets are in the suburbs of DFW. in fact, get ready for this, Grapevine has ONLY a 2.5 months supply of homes on the market with their total inventory being down 43% compared to last year.
what does all this mean?? well, if you’ve been considering buying – you MIGHT want to get off the fence because the good homes are moving fast. on the other hand, if you’ve been considering selling – you MIGHT want to get off the fence while a potential buyer can still lock in an ultra low rate compelling them to buy your house!
according to cole the real estate sky is NOT falling!
tune in to Real Time Real Estate DFW with Cole on Saturdays at 3pm on KWRD Christian Talk Radio 100.7 the Word.