We had 1,400+ more homes in play in the North Texas housing market than we did the week prior. That’s a large shift of homes at play versus the week before. A large part of this is because the end of the month always has homes a larger number of homes sell/close out. (The last week in February had 1,000 more homes sell than the week prior.)
To compare with 2016 same week numbers, there were 21,010 homes in the housing market at play. This past week there were 20,900 homes. Based on 2016 outcomes, that puts the North Texas market on par for another strong year.
We are seeing the higher end homes slowing down a bit on days on market which will lead to lower sales prices if adjustments aren’t made quickly.
Interest rates for buyers and sellers will still be the largest determining factor of appreciation and buying power as we move into 2017 market. Keep an eye on interest rates and take advantage of buying while the rates are low. You’ll thank us later, we promise.