Okay, so it is not amazing! Really, over the past week we saw an uptick in inventory of single family resale homes in the 20 school districts we track. Not all of them increased but there was more inventory overall but only by 16 homes. However, this is the first time in weeks we have seen an overall increase compared to the previous weeks since the beginning of the year and even further back into 2022. What does this mean? Good question! It is to soon to tell but if this trend continues it means more people are confident about putting their homes on the market. There has been plenty of news about single family new home construction permits falling by leaps and bounds in some areas and hopefully this will help the buying public when it comes to finding a

I am not saying that you need to run out and buy a home immediately. What I am concerned about for buyers is that inventory moved up through October 23 of 2022 and since then has continually come down from that high. In other words, we were seeing about a 2.1 months of inventory and up to that point it was continually increasing. Since then it has dropped back to about 1.6 months of inventory on resale homes in North Dallas and Collin County. This is still much more than months previous but not moving in the right direction or holding like we would like to see. The urgency? If I was a potential buyer of residential real estate looking to purchase a home, I would factor this information into when is the right time to buy. Why? If you recall, there were

In Collin County, no matter how you view it, it looks like we are seeing some changes. However, not as dramatic as they could be in the very near future. What do I mean? When you compare both resale homes and new home sales for like periods, in other words, April 2022 to April 2021 it may look as if the market is still on the upswing. However, when you go from January through April of this year you can see some trends going in the other direction. One of the things that we notice is that inventory seems to be lower in April of this year compared to April of last year. However, when we look at January through April of this year inventory is steadily climbing upwards and if this continues on the track it is on it will exceed last years inventory. The same

The DeBerry Team of Keller Williams Realty has been very active over this past month due to an increase in both seller and buyer demand. The issue continues to be a lack of more housing inventory for single family homes. This situation has led to increased offers above list price and many of those are cash offers. We spoke to one of our title companies recently and they told us that many of the people that they are closing are using their 401k to make cash offers and then getting a mortgage once they secure the home they desire. However, our team is still seeing many of our customers using a mortgage company to secure their financing for a home. Our team has seen an uptick in both buyer and seller activity over these past two weeks. 

As of March 7,

Many people have asked me and my team what is going on with home sales during the pandemic? There are some people who have taken their homes off the market and yes buyer traffic has been reduced but not eliminated. Our team is still listing homes and also showing buyers who need to find a home. We track approximately 18 areas to make sure we understand the dynamics of the market. Most areas are in Collin County but we also have a couple of areas outside of that like north Dallas, Rockwall and parts of Denton County. This gives us a good picture of the activity. This past week ending April 19th there were 380 single family homes that "Sold". Based on the approximate same weekly period last month there were 363 homes that "Sold". So you can see that we had

I wanted to discuss a phenomenon that is happening in the real estate industry. There are now companies wanting to provide what they call "end to end solutions" for selling a home. In other words, they will buy a home for a specific price based on their algorithms and then re-sell the home while providing title as well as mortgage services to the public. They have nifty apps to put on your cell phone to do the home search and of course, to capture you there. Why am I discussing this? Let me explain, there are companies that have been in the Real Estate Brokerage business for a long time such as Keller Williams, Remax and others. But now we have real estate portals like Zillow who have stepped into the fray to purchase and resell homes. So what is the