Annual Kickoff Event and Market Outlook
Earlier this week, agents and LEAGUE staff gathered together at Colonial Country Club for our annual Kickoff event! At the beginning of each new year, we take time as a company to reflect and celebrate the prior year, and boy, did we have a lot to celebrate and be thankful for! It’s also a great time for us to look ahead at the market predictions, educating ourselves and preparing for how to best serve our clients in 2022. We’d like to share a few of the main takeaways that we want our clients and friends to know.
DFW continues to be a fast-growing market, boosting our economy! In fact, we are the second “move to” destination in the US, just behind Austin! Unemployment is down, and companies who have relocated to DFW are bringing high paying jobs. While housing inventory is expected to rise thanks to new builds, we are still not able to meet the demand. This is especially true for entry-level homes, as many young people are ready to graduate from renters to first time homeowners.
Like 2021, home prices are still on the rise, but the pace is expected to slow down to a more natural rhythm. While the market looks to remain a “seller’s market” due to low inventory and higher costs, that doesn’t mean it's a bad time to buy. If you’re considering the purchase of a home, it's best to do so sooner than later, as mortgage rates are expected to gradually rise with each seasonal quarter. Buyers can prepare in advance by locking in a lower interest rate now and solidifying their specific wants, needs and budget. For sellers, this means that spring will be a great time to list your home!
To sum it up,
- DFW is a strong and healthy market! Homeowners should continue to see appreciation in the value of their homes!
- If you’re in the market to purchase a home, don't wait!! Home prices and mortgage rates will continue to rise as the year goes on. Be well-prepared so you can compete with other buyers!
- It’s still a great time to list your home! Sellers can expect to do well, but things may slow down as inventory increases and rates rise.
We’re excited for all the new year holds, and we can’t wait to help meet your housing needs. Please reach out to any of us with your questions. We’re here for you and #readytoserve!
