Steps to Help You Purchase a Home in a High Inflation Housing Market
Posted by Kenneth G. Cox on
Buying a DFW Home in a High Inflation Housing Market
Purchasing a home can be challenging, as the cost of homes and mortgage interest rates tend to rise. Here are some steps you can take to help protect yourself when buying a home in Dallas-Fort Worth, TX or anywhere in the U.S. with a housing market suffering from high inflation.
Steps to Purchase a Home in a High Inflation Housing Market:
- Improve your credit score: A higher credit score will make you a more attractive candidate for a mortgage, and may help you secure a better interest rate. There are several reputable credit repair companies in Dallas, TX that can assist with improving your score. Ask one of our DFW Realtors for a credit repair specialist referral!
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Dallas-Fort Worth, Arlington TX was recently ranked in the top performing housing markets by NAR (National Association of Realtors). Although existing home sales are predicted to decrease around 6.8% from 5.13 in 2022 to 4.78 in 2023, overall home sales are still expected to be strong esp. in specific hot housing markets such as Dallas-Fort Worth, TX. Lawrence Yun, NAR chief economist, also predicts median home prices to rise in 2023 just .3% over 2022 to an average median home price of $385,800.
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