The market is continually shifting throughout the year. However, since the pandemic started we saw that new inventory was not coming on the market as it was in 2019. The last part of every year is one that is always in flux. In other words, each year can be slightly different than the previous year. This year we started to see inventory starting to rise, slightly, through the 2nd quarter and into the 3rd quarter. During the latter part of the third quarter we saw that the inventory began to decline once again, although just slightly. This was seen on resale homes, in other words, homes put up for sale by owners. New construction homes were inundated with demand and product shortages. The inventory that was being built was sold before it hit the ground. This month, October, the information that is coming in is that home building permits have started to slide to some degree. Again, the time of the year and demand can have an impact on sales results. In other words, we will know more once we compare this year over 2020 to see the overall results. Personally, I believe that prices will moderate and inventory will increase once again after the first of the year. 

What should you expect is always the question. I believe buyers will find that they will not have to offer way over list to obtain a home. This is because of the demand and sellers willing to understand the market dynamics. With that said, there will still be subdivisions that are highly desired and they may still see offers well over list. Buyers and sellers should speak with their Realtors to find out the correct information so that they can price their homes correctly and for buyers to understand what types offers sellers are willing to accept. This is extremely important. 

Here at The DeBerry Team of KW we have been very busy helping both buyers and seller of residential real estate. We are all excited about going into the holiday season. Our families, children are looking forward to the upcoming Halloween festivities. We want to wish eveyone a safe and prosperous holiday season. If you have any questions about this article or need help with your residential real estate needs, please call Roxanne DeBerry at 214-676-8040. 


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