All signs continue to point to a fantastic 2012 real estate market in Dallas-Fort Worth.
The Dallas Morning News is reporting today that Dallas-Fort Worth pending home sales were up 16 percent in January. You might remember that we reported last week that at the Ebby Halliday Companies, pending home sales were up 19 percent for January 2012.
Today’s article goes on to state that nationally, the number of Americans who signed contracts to buy homes rose in January to the highest level in almost two years. In addition, the National Association of Realtors said that its index of sales agreements rose 2 percent across the country last month to a reading of 97. That’s the highest reading since April 2010, which was the last month that buyers could qualify for the federal home-buying tax credit and the last time the reading was above 100, which is considered healthy.
And the increase in pending sales seems to have created a shortage of inventory. Last Friday at the Ebby Halliday Breakfast of Champions networking event, Home Team Mortgage Company told the group of top listing Associates that they are experiencing a large increase in mortgage applications and that the ongoing problem seems to be that there are currently not enough homes on the market for the number of buyers looking to purchase.
Translation: if you’ve been contemplating listing your home for sale, NOW might be the ideal time. In addition to having a large number of buyers in the market for your current home right now, you’ll also take advantage of the lowest interest rates since WWII when you purchase your next home. It seems like a win/win.
To read the full article from today’s Dallas Morning News, click here.
To see current homes for sale in your neighborhood or to contact an Ebby Sales Associate to explore the market conditions specific to your area, visit ebby.com.
To learn more about mortgage rates and options, visit HomeTeamMortgage.com.