Historic 50-Year Record Low U.S. Mortgage Rates Increase Buyer Purchase Power in DFW
Posted by Kenneth G. Cox on
Home buyers with affordability concerns in Dallas-Ft. Worth, TX and across the U.S. now have one lesson reason to postpone their new home purchase! Low inventory levels around DFW combined with high price points due to recent increases in home value appreciation, have left many buyers with very few home purchase options when searching their ideal price point.
That is all about to change! 50-year historic record low interest rates are unlocking new price points for buyers that now have a little more purchase power with mortgage rates averaging around 3.29% percent. Record low mortgage interest rates are also expected to encourage more buy and sell transactions from home owners hoping to cash in on record rates which will ultimately help solve…
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In a region renowned for its Texas-sized homes and properties, some of the most appealing options for real estate rise high above the rest. In fact, some of the top Dallas/Ft Worth apartment high-rises offer beautiful residences and impressive added amenities. The DFW Metroplex is currently the top apartment market for leasing and construction in 2020 with over a dozen residential high-rise apartment and condo towers in the works in different phases of construction and completion. Demand for DFW high-rise apartments and condos has significantly increased since 2018 and developers have rushed to meet the demand. New residential towers throughout Dallas and Fort Worth are underway and highrise construction is even moving into areas traditionally…
New home construction slowed during the first quarter of 2019 as North Texas home builders started just 8,439 new homes. According to data from Residential Strategies Inc, that represents a 4.4 percent decline compared to a year ago. 2019 ended with just under 890,000 new home starts which recorded another record year of low housing production esp. when compared to the 1.4 million built in 2007 right before the housing crash in the first Great Recession of the 3rd millennium. 
DFW Home & Condo sales statistics for December 2019 paint a positive outlook for 2020 throughout the Dallas Fort Worth, TX Metroplex! Check out the latest housing statistics for DFW home and condo sales below including inventory and pricing for Dallas, Denton, Collin, Tarrant and Rockwall County. The December 2019 housing report provided by Republic Title includes stats on new listings, active listings, average days on market, average home prices, dollar per square foot averages and total number of sales.
Economists have mixed reviews for the 2020 U.S. real estate market forecast in reference to home sales and price gains but one opinion seems to be shared.... the Dallas-Ft. Worth, Texas market is expected to outperform most of the large urban markets throughout the country! Many economists forecast home sales and prices to decrease slightly throughout the U.S. for 2020, but many local brokers and agents in the DFW area expect the exact opposite with expectations of slight increases for both pre-owned and new construction home and condo prices and sales. In some cases, models with variables such as lower interest rates and more favorable conventional and FHA loan programs and options that increase buyer purchasing power show home sales numbers through…
North Forth Worth has been one of the fastest growing parts of DFW in recent years and a massive new residential development that’s being planned should keep that trend moving in the same direction for the foreseeable future.
DFW ranks 4th most popular metro to metro migration destination by CommercialCafe, a nationwide commercial real estate listings platform apart of Yardi Systems. Using U.S. Census bureau data, CommercialCafe was able to determine the top 10 most popular destinations for metro to metro migration which accounts for many of the population shifts.
